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 the choices will affect a partner's tax basis.

Question

Quizplus · Accepted Answer

A partner's share of partnership ordinary business income (loss) as well as any type of partnership debt (recourse, nonrecourse, etc.) will affect the tax basis of her partnership interest.

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