REG

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    Topic
  • October 4, 2016 at 12:53 am #851838
    ITSTIMETOPASS
    Participant

    So I’m trying to understand LLC and the termination of a partner from the LLC. So below are the details provided in the problem and I want to know the effect of the partner getting out of the partnership – such as tax effects and how much he will have to pay due to liabilities (if he has to pay) or how much is distributed to him.

    From K-1 of a 10% partner:
    Beginning Capital = 150,000
    Ordinary Loss = -47,000
    Liabilities:
    Recourse = 700,000
    Nonrecourse = 50,000

    AUD: PASSED!
    REG: Q4 2015
    FAR:
    BEC:

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