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Author Question: The partnership's assumption of a liability from a partner is treated as a cash distribution to the ... (Read 33 times)

MirandaLo

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on: Sep 13, 2020

Question 1

The expenses associated with promoting and marketing partnership interests can be currently deducted if $5,000 or less. Expenses in excess of $5,000 are amortized over 180 months.
◦ true
◦ false

Question 2

The partnership's assumption of a liability from a partner is treated as a cash distribution to the partner whose liability is assumed, which decreases his basis in the partnership.
◦ true
◦ false
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by MirandaLo on Sep 13, 2020

krakiolit

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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MirandaLo

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

shewald78

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Reply 3 on: Yesterday
Wow, this really help

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