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Edmund made four contributions to Partnership LMN . Which of the following can be included in Edmund's at - risk basis? Edmund borrowed $ 2
Edmund made four contributions to Partnership LMN Which of the following can be included in Edmund's atrisk basis?
Edmund borrowed $ from his local bank to contribute to the partnership. It was a nonrecourse loan. He used his personal ebike as collateral. The fair market value of his ebike was $ when he pledged it as collateral.
Clarence is Edmund's best friend. He loaned Edmund $ to invest in the partnership. Clarence is a general partner of the partnership.
Edmund took $ out of his savings account to invest in the partnership. Erma guaranteed Edmund she would reimburse him up to $ if the partnership failed.
A month later Edmund borrowed another $ from his local bank to contribute to the partnership. Clarence let him use the partnership's vehicle as collateral for the loan.
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