Which of the following items will affect a partner's tax basis?
A)Share of ordinary business income (loss)
B)Share of nonrecourse debt
C)Share of recourse debt
D)Share of qualified nonrecourse debt
E)All of these choices will affect a partner's tax basis.

Question

Quizplus · Accepted Answer

All of these items will affect a partner's tax basis. A partner's tax basis is affected by their share of ordinary business income (loss), share of nonrecourse debt, share of recourse debt, and share of qualified nonrecourse debt.

Which of the Following Items Will Affect a Partner's Tax