THE-WFT08-06-1001-ch_11_V4-SM

THE-WFT08-06-1001-ch_11_V4-SM - CHAPTER 11 PARTNERSHIPS AND...

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CHAPTER 11 PARTNERSHIPS AND LIMITED LIABILITY ENTITIES SOLUTIONS TO PROBLEM MATERIALS Status: Q/P in Question/ Present Prior Problem Topic Edition Edition 1 Issue recognition Unchanged 1 2 Formation of partnership; inside and outside Unchanged 2 basis 3 Formation of partnership; inside and outside Unchanged 3 basis 4 Formation of partnership; inside and outside Unchanged 4 basis; character of gain on later sale 5 Issue ID Unchanged 5 6 Basis of property received as inheritance; Unchanged 6 receipt of interest for services; planning for service interests 7 Disguised sale versus distribution Unchanged 7 8 Nonliquidating distributions Unchanged 8 9 Current distributions Unchanged 9 10 Definition of organization costs; amortization Unchanged 10 of organization costs 11 Date basis of partner’s interest; gain on sale Modified 11 of contributed land with precontribution built-in gain 12 Date basis of partner’s interest; loss on sale of Modified 12 contributed land 13 Computation of partner’s outside basis at Unchanged 13 beginning and end of year when several transactions took place 14 Contribution of asset Modified 14 15 Allocations to partner; basis in interest; loss Unchanged 15 limitations 16 Formation of partnership; gain or loss Unchanged 16 recognized by contributing partners; basis of contributed property to partnership; basis of interests to contributing partners 11-1
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2008 Entities Volume/Solutions Manual Status: Q/P in Question/ Present Prior Problem Topic Edition Edition 17 No negative basis for a partner’s interest; no Unchanged 17 gain recognized by partner contributing appreciated property encumbered by nonrecourse debt; basis of contributed property to partnership; basis of interests to contributing partners 18 Issue ID Unchanged 18 19 Partnership distributions; partner’s basis Unchanged 19 20 Formation of partnership; treatment of costs Unchanged 20 21 Disallowed § 267 loss from sale of property to Unchanged 21 partnership by partner; conversion of capital gain to ordinary income from sale of investment property to partnership by partner 22 Partnership formation and operations issues Unchanged 22 23 Timing of recognition of guaranteed payments New 24 Partnership has operating loss after deducting Unchanged 24 guaranteed payment to partner 25 Loss limitations under § 704(d), § 465, and Unchanged 25 § 469 26 Family partnership where capital is a material Unchanged 26 income producing factor; allocation of partnership profits between parent and child; child under 18 years of age 27 Liabilities and partners’ bases Unchanged 27 28 Partner’s loss limitations Unchanged 28 29 Conceptual basis for partnership taxation New Comprehensive Tax Return Problem 30 Prepare Form 1065 and Schedule K-1 for one New partner Bridge Discipline Problem 1 Basis and capital account calculation Unchanged 1 Research Problem 1 Economic effect allocations Unchanged 1 2 Entity tax year New 3 Allocation of liabilities Unchanged 4 4 Internet activity
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THE-WFT08-06-1001-ch_11_V4-SM - CHAPTER 11 PARTNERSHIPS AND...

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