quiz 9d - 1. (T/F) The passive activity loss rules limit a...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1. (T/F)  The passive activity loss rules limit a partnership’s ability to pass through  items to its members. Response: FALSE Answer: FALSE  Points: 1 / 1 2. (T/F)  Any loss limited by a partner’s basis is carried forward, and can only be  deducted in the future when the partner receives additional basis Response: TRUE Answer: TRUE  Points: 1 / 1 3. (T/F)  Any loss limited by a partner’s amount at risk is carried forward, and can  only be deducted in the future when the partner receives additional amount at  risk Response: TRUE Answer: TRUE  Points: 1 / 1 4. (T/F)  Any loss limited by a partner’s PAL limit is carried forward, and can only be  deducted in the future when the partner receives additional income from passive  activities. Response: FALSE Answer: FALSE  Points: 1 / 1 5. Which of the following best describes the ordering of loss limitations applicable to 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 06/23/2009 for the course BUPA 539 taught by Professor Jamison during the Spring '09 term at IUPUI.

Page1 / 2

quiz 9d - 1. (T/F) The passive activity loss rules limit a...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online