7090937-Solutions - CHAPTER 20 PARTNERSHIPS SOLUTIONS TO...

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CHAPTER 20 PARTNERSHIPS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Entity and aggregate theories New 2 Is entity a partnership? Unchanged 2 3 Application of § 721 Unchanged 3 4 Issue ID Unchanged 4 5 Treatment of expenses of new partnership Modified 5 6 Issue ID Unchanged 6 7 Assumption of partner’s liability by partnership Unchanged 7 8 Adjustments to partner’s basis Unchanged 8 9 Loss limitations New 10 Guaranteed payments Unchanged 11 11 Issue ID Unchanged 12 12 Partnership compared to C corporation New 13 Partnership formation and operations issues Unchanged 13 14 Formation of partnership; inside and outside basis Unchanged 14 15 Formation of partnership; inside and outside basis New 16 Formation of partnership; inside and outside basis; character of gain on later sale Unchanged 16 17 Basis of property received as gift; receipt of interest for services; planning for service interests Unchanged 17 18 Disguised sale versus distribution Modified 18 19 Treatment of contributed property Unchanged 19 20 Precontribution gain [§ 704(c)] Unchanged 20 21 Definition of organization costs; amortization of organization costs Unchanged 21 22 Computation of partnership’s required tax year under the least aggregate deferral method Unchanged 22 23 Date basis of partner’s interest; gain on sale of contributed land with precontribution built-in gain Unchanged 23 20-1
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20-2 2004 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 24 Date basis of partner’s interest; loss on sale of contributed land Unchanged 24 25 Computation of partner’s outside basis at beginning and end of year when several transactions took place New 26 Allocations to partner under § 704(b) and § 704(c) Unchanged 26 27 Partnership income; partner’s basis; separately stated items; guaranteed payments Unchanged 27 28 Partnership income; partner’s basis; loss limitations; guaranteed payments Modified 28 29 Basis and loss limitations New 30 Allocations under § 704(b); gain calculation New 31 Allocations to partner; basis in interest; loss limitations Unchanged 30 32 Formation of partnership; gain or loss recognized by contributing partners; basis of contributed property to partnership; basis of interests to contributing partners Unchanged 31 33 No negative basis for a partner’s interest; no gain recognized by partner contributing appreciated property encumbered by nonrecourse debt; basis of contributed property to partnership; basis of interests to contributing partners Unchanged 32 34 Sharing recourse debt for basis purposes New 35 Loss disallowance under § 704(d), § 465, and § 469 Unchanged 35 36 Timing of recognition of guaranteed payments Unchanged 36 37 Partnership has operating loss after deducting guaranteed payment to partner Unchanged 37 38 Disallowed § 267 loss from sale of property to partnership by partner; conversion of capital gain
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7090937-Solutions - CHAPTER 20 PARTNERSHIPS SOLUTIONS TO...

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