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- Re: T/P is a partner. Book Cap. is $550M, liab's is $580M, and est tax basis is ($160M). Income for 2024 is approx. $80M. How would it any withdrawal be treated?
T/P is a partner. Book Cap. is $550M, liab's is $580M, and est tax basis is ($160M). Income for 2024 is approx. $80M. How would it any withdrawal be treated?
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2 Comments 2
Terry53029
Level 14
Tuesday
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Here is a source for you to see the rules for withdrawals.
https://www.thetaxadviser.com/issues/2024/aug/partnership-distributions-rules-and-exceptions.html
