make reasonable assumptions in the preparation of the K-1s. Do your best to mark any cosmetic information with information available. Please list any questions you have for the client in the section below. Hint: Use the beginning tax capital accounts as beginning tax basis values. These can be found on the prior year's K-1s from Module 3. The limited partners have personal guarantees attached to the notes payable; however, the recourse payables are ultimately the responsibility of the general partner. Take note that there are two scenarios in the workpaper file. Scenario 1 Prepare the tax basis and at-risk basis schedule according to the financials from Module 4. Schedules K-1 should be prepared based on scenario 1 allocations. The debt classifications are as follows: Nonrecourse $0 Qualified Nonrecourse $7,394,321 Recourse $38,084 Total $7,432,405 Scenario 2 Prepare the tax basis and at-risk basis schedule according to alternate debt classifications listed below. The income and loss items should be calculated from the same financials from Module 4. The alternate debt classifications are as follows: Nonrecourse $7,156,729 Qualified Nonrecourse $237,592 Recourse $38,084 Total $7,432,405 Outstanding Questions and Open Items