X is a general partner in a general partnership that leases heavy-duty equipment (e.g., bulldozers, backhoes, compactors, excavators).All of the equipment purchases are financed using nonrecourse debt that is secured by the equipment.X's at-risk amount includes his share of recourse and nonrecourse debt.

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In a general partnership, a partner's at-risk amount generally includes only his share of recourse debt, not nonrecourse debt, because nonrecourse debt is secured by the property (in this case, equipment) and the lender cannot pursue the borrower personally beyond the collateral.

X Is a General Partner in a General Partnership That