$16$

$2$ points

Green Corporation has current earnings and profits of $$100,000$ and negative accumulated earnings and profits of $($ $$200,000).$ A $$50,000$ distributio to its sole shareholder will not be treated as a dividend because total earnings and profits is a negative $$100,000.$

True

False

$2$ points

The term "outside basis" refers to the partnership's basis in its assets; whereas, the term "inside basis" refers an individual partner's basis in her partne interest.

True

False

$2$ points

What type of debt is not included in calculating a partner's at$-$risk amount?

Recourse debt

Qualified nonrecourse debt

Nonrecourse debt

All of these types of debt are included in the at$-$risk amount