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Can a recourse debt of a partnership increase the basis

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Reference no: EM132842376

Problem 1: Can a recourse debt of a partnership increase the basis of a limited? partner's partnership? interest? Explain.

A. Yes, because a limited? partner's basis in his or her partnership interest is dependent upon any debt or income the partnership acquires.

B. ?No, because a limited? partner's basis in his or her partnership interest is based primarily on the profit ratio.

C. ?No, because a limited partner normally has no economic risk for recourse debt.

D. ?Yes, because a limited partner normally has a large economic risk for recourse debt.

Reference no: EM132842376

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