Any losses that exceed the tax basis of a partner are suspended and carried forward for 20 years.
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Q22: Which of the following statements is true
Q24: Under general circumstances, debt is allocated from
Q25: A partner's tax basis or at-risk amount
Q27: Which of the following entities is not
Q29: Gerald received a 33% capital and profit
Q30: Erica and Brett decide to form their
Q31: The main difference between a partner's tax
Q36: Which of the following does not represent
Q37: Sue and Andrew form SA general partnership.
Q38: If a partner participates in partnership activities
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