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Can someone point me to how to do special allocation on Recourse partnership debt.
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Yes, please. I want to use the share of his liability to increase basis so that I can deduct the loss from the partnership.Thanks
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My question is in regards to Form 1040 K-1 and not Form 1065. The partner's share of the liability increases basis that enables the taxpayer to deduct loss from...
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Can someone point me to where to enter non recourse liability of a partner on Schedule K-1 of Form 1065?
