Question
A partnership owns a building with a basis of $1,500,000 and a value of $1,600,000 that is secured by a non-recourse loan of $2,000.000. The
A partnership owns a building with a basis of $1,500,000 and a value of $1,600,000 that is secured by a non-recourse loan of $2,000.000. The partnership dissolves with no other assets and the lender takes the property in satisfaction of the loan. What is the amount of the partnerships minimum gain in this case? (NOTE: Ignore Chapter footnote #16 for this answer.)
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Auditing For Dummies
Authors: Maire Loughran
1st Edition
0470530715, 978-0470530719
