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- tax effects of qualified non-recourse financing coupled with negative capital balance
tax effects of qualified non-recourse financing coupled with negative capital balance
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ROBB754
Level 1
01-17-2022
01:59 PM
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partner has -175,000 negative capital balance handled on tax basis and also has 200,000 qualified non-recourse financing balance. Are there any reporting requirements or tax effects before sale or liquidation?
Upon sale or liquidation should negative capital balance be added to sales price to determine long term capital gain?
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