Comp SM_Ch21 - CHAPTER 21 PARTNERSHIPS SOLUTIONS TO PROBLEM...

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Unformatted text preview: CHAPTER 21 PARTNERSHIPS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Entity and aggregate theories Unchanged 1 2 Partnership versus corporate formation New 3 Contribution of appreciated property New 4 Application of 721 Unchanged 3 5 Issue ID New 6 Treatment of expenses of new partnership Unchanged 5 7 Issue ID Unchanged 6 8 Adjustments to partners basis Unchanged 8 9 Loss limitations Unchanged 9 10 Guaranteed payments Unchanged 10 11 Issue ID Unchanged 11 12 Partnership compared to C corporation Unchanged 12 13 Partnership formation and operations issues Unchanged 13 14 Formation of partnership; inside and outside basis New 15 Formation of partnership; inside and outside basis Unchanged 15 16 Contribution of various properties on formation of a partnership; basis and depreciation New 17 Formation of partnership; inside and outside basis; character of gain on later sale Unchanged 16 18 Basis of property received as gift; receipt of interest for services; planning for service interests Unchanged 17 19 Disguised sale versus distribution Unchanged 18 20 Treatment of contributed property Unchanged 19 21 Precontribution gain [ 704(c)] Unchanged 20 22 Definition of organization costs; amortization of organization costs Unchanged 21 21-1 21-2 2005 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 23 Computation of partnerships required tax year under the least aggregate deferral method New 24 Date basis of partners interest; gain on sale of contributed land with precontribution built-in gain Unchanged 23 25 Date basis of partners interest; loss on sale of contributed land Unchanged 24 26 Computation of partners outside basis at beginning and end of year when several transactions took place Unchanged 25 27 Partnership income; partners basis; separately stated items; guaranteed payments New 28 Partnership income; partners basis; loss limitations; guaranteed payments New 29 Basis and loss limitations Unchanged 29 30 Allocations under 704(b); gain calculation Unchanged 30 31 Allocations to partner; basis in interest; loss limitations Unchanged 31 32 Formation of partnership; gain or loss recognized by contributing partners; basis of contributed property to partnership; basis of interests to contributing partners Unchanged 32 33 No negative basis for a partners 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 33 34 Sharing recourse debt for basis purposes Unchanged 34 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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Comp SM_Ch21 - CHAPTER 21 PARTNERSHIPS SOLUTIONS TO PROBLEM...

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