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I only need 35 in 33. In 2020, Wilmah Lansing invested in the Triple-K Limited Partnership by paying gis $15,000 cash and signing a $40,000
I only need 35
in 33. In 2020, Wilmah Lansing invested in the Triple-K Limited Partnership by paying gis $15,000 cash and signing a $40,000 nonrecourse note. She also pledged $25,000 worth of securities for a loan obtained by the partnership. Her basis in the securities was $10,000. What amount does Wilmah have at risk in Triple-K as of January 1, 2021, if the partnership broke even (no income or loss)? 34. Refer to the facts in Problem 33 and assume that Triple-K allocated to Wilmah net income of $10,000 from operations in 2020. What amount does Wilmah have at risk as of January 1, 2021? Would your answer be different if she also withdrew $5,000? Explain. 35. Refer to the facts in Problem 33 and assume instead that Triple-K allocated to her a loss of $60,000 in 2020. What amount does Wilmah have at risk as of January 1, 2021Step by Step Solution
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