REG Topic Help – Can't figure this out :(

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  • June 2, 2017 at 7:35 pm #1564789
    wakefern58
    Participant

    Could someone clarify something for me with regards to “passive income”. I can’t figure this out!

    If a “limited partner” who does not materially participate in the partnership receives capital gain income or portfolio income on his K-1 from the partnership, is this type of capital and portfolio income considered “passive” because he is a limited partner? OR would only ordinary income from the partnership be considered passive?

    BEC - 77

    AUD - 85

    REG - TBD

    FAR - Q2

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  • June 4, 2017 at 11:53 pm #1565283
    Julia
    Participant

    How do u treat a complete corp liquidation if land distributed has liability ?
    Do u ignore it and only compare FMV and adj basis – and recognize a gain or loss?

    Reg July 3

    Bec Sept 8

    June 5, 2017 at 12:05 am #1565289
    Julia
    Participant

    It is my understanding: anything related to “passive” is treated as passive.
    The figures are broken up differently on the k1for individuals who would are not limited.

    https://www.irs.gov/instructions/i1065bsk/ch01.html

    Reg July 3

    Bec Sept 8

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