LO.9 Indicate whether each of the following will increase (+), decrease (), or have no effect (NE)

Question:

LO.9 Indicate whether each of the following will increase (+), decrease (−), or have no effect (NE) on a partner’s basis in a partnership interest:

a. Operating loss of the partnership.

b. Capital gains of the partnership.

c. Tax-exempt income of the partnership.

d. Partnership expenditures that are not deductible in computing taxable income.

e. Bank loans made to the partnership.

f. The partnership pays off a mortgage on property it owns.

g. Withdrawals by a partner that are not guaranteed payments.

h. Withdrawals by a partner that are guaranteed payments.

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