Special Limitations on Loss Deductions (Partner)
Pass-Thru Entities
3 Ways for A Partner to Limit Losses from P/S:
Basis Limit -> Only deduct losses up to amount of basis in the P/S
At-Risk Limit -> Loss is limited to aggregate amount that partner is a
University of Toronto Scarborough
STAB22 Midterm Examination
October 2008
For this examination, you are allowed one handwritten letter-sized
sheet of notes (both sides) prepared by you, a non-programmable,
non-communicating calculator, and writing impleme
1. (5 marks) At a certain university in 1993, a record was kept of the number of women
graduating with doctoral degrees in each of six dierent elds of study.
(a) What is this kind of graph usually called?
i.
ii.
iii.
iv.
Histogram
* Bar chart (the variabl
Larget Statistics/Mathematics 309
Solution to Exam 6A
February 27, 2009
An i.i.d. sample X1 , . . . , Xn is taken from a distribution F with density f (x) = (3 /2)x4 e/x for x > 0 where = (0, ) is an unknown parameter. For this distribution, E(X) = /2 and
Larget Statistics/Mathematics 309
Solution to Exam 6Ax
March 11, 2009
An i.i.d. sample X1 , . . . , Xn is taken from a discrete distribution F with probability function f (x) = ( for x = 1, 2, 3, . . . where = (1, ) is an unknown parameter. For this distr
Finance 30210
Solutions to Midterm #1 Practice Questions
1) Suppose that you have estimated the following regression (standard errors
associated with each are below in parentheses):
Qd = 300 4 P +
(6.5) (1.2) (60.5)
a) Calculate your forecast at the samp
Larget - Statistics/Mathematics 309
Solutions to Exam 5A
February 27, 2009
A new method for measuring information about the physical conformation of large organic molecules records the times that photons of a specific wavelength hit a detector. At a parti
Math 215 Spring 2010 Exam 1 Solutions
Low: 31 Average: 84 High: 100
Approximate grade breakdown (if I curved this exam):
90 100
A
80 90
B
0 80
C or below
1.
True
For example,
,
.
False
Multiply them and you do not get the identity.
False
True
The solution
Math 215 Fall 2007 Exam 3 Solutions
Low: 42 Average: 76 High: 92
Approximate grade breakdown (if I curved this exam):
85 100
A
70 85
B
0 70
C or below
1. ( R S T ) ( R'S 'T ' )
( R S T ) ( R S T )' ,
i.e. the union of all three, but not
in the intersecti
Whichever version of the exam you had, all these questions will have been on it, though most likely with
the alternative answers in a dierent order.
1. A linear regression was carried out for predicting one variable y from another variable x. The residual
Quiz 11
Name: _
April, 22nd, 2011
Old McDonald had a farm. And on his farm he had 100 cows. The weight of each cow ranges
evenly between 540 lbs and 600 lbs. Let W be the average weight of these cows and answer the
following questions.
1. Name a good appr
Items to Focus on for Exam #2
This is intended to guide you in what sections of the chapter I will focus on for the test.
Chapter 4
1. Definition of Economic Effect, especially the following tests:
a. Basic test
b. Alternate Test
c. Alternate test w/Quali
Chapter 3
Exam #1 Info:
Chapters 1-3 (coverage adjusted if need be)
Only Section 1 form Chapter 3!
Problems (like the HW) & essays
Essays are generally a paragraph long
Problems may not have clear-cut answers
Problems may not give enough informatio
EXAM #1 STUDY GUIDE
Taxation of Pass-Through Entities
Ch. 1: Taxation of Partners & Partnerships
Partnership -> Joint activity of two or more people & is NOT taxable as a corporation
a.k.a. Subchapter K Entities
An association must be treated as a corp
Ch. 2: Formation of the Partnership
Capital accounts are recorded @ book value
Tax consequences generally refers to gains/losses, character of income (ordinary, capital, etc.), partners
basis, and the holding period (S/T or L/T)
Character of income is
# 2 on pg. 2: Likely to choose to ignore LLC for tax purposes (treat as sole proprietorship)
#B-1 on pg. 2: Yes, b/c theyre splitting costs between the two entities
Can elect out of Subchapter K though (i.e. not be considered a partnership)
#B2 on pg.
(a)
(b)(1)
(b)(2)
Need 2 out of 3 required provisions: <- Other Provision: Partners are un
Required to properly maintain capital accounts
Liquidating distributions will be made in accordance w/the positive capita
Income:
Deductions (w/o depreciation):
$
D
Ch. 4: Determining Partners Distributive Shares
A partners capital account must be increased by any contributions to P/S and by income allocated to partner. It
must be decreased by any money distributed to the partner and by partners share of losses/dedu
1. For each of the following statements, name the distribution(s) of the random variable and
its parameter(s) to your best knowledge. If there is only one exact OR approximating
distribution, please label whether it is exact or approximate. If BOTH exact
Math 215 Fall 2009 Exam 2 Solutions
Low: 54 Average: 78 High: 98
Approximate grade breakdown (if I curved this exam):
90 100
A
80 90
B
0 80
C or below
1. This just like homework problem 7.5.14.
(a) At
,
111.
(b)
(c)
leads to
, so part way through 1998.
te