An additional allocation of partnership debt or relief of partnership debt is considered to be a deemed cash contribution or cash distribution, respectively.
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Q5: Partners must generally treat the value of
Q6: Partners adjust their outside basis by adding
Q7: Tax elections are rarely made at the
Q8: A partner's outside basis must first be
Q9: Guaranteed payments are included in the calculation
Q11: Partnership tax rules incorporate both the entity
Q12: A purchased partnership interest has a holding
Q13: Partnerships can request up to a six-month
Q14: Actual or deemed cash distributions in excess
Q15: Any losses that exceed the tax basis
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