How much of the nonrecourse liability is alloca

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Question: The AB Ltd. partnership was created by A contributing cash and B contributing land B with nonrecourse debt attached to it. The initial balance sheet is as follows: Book Tax Cash 100,000 100,000 Land B 300,000 65,000 400,000 165,000 NR Debt 150,000 150,000 0.4 Capital A 100,000 100,000 0.6 Capital B 150,000 (85,000) 400,000 165,000 How much of the nonrecourse liability is allocaThe AB Ltd. partnership was created by A contributing cash ted to each partner?

Reference no: EM133654122

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