What are the differences between recourse, nonrecourse, and qualified nonrecourse liabilities? Which liabilities are considered at-risk?

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Fundamentals Of Taxation 2015

ISBN: 9781259293092

8th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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Question Posted: Feb 04, 2016 06:06 AM

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What are the differences between recourse, nonrecourse, and qualified nonrecourse liabilities? Which liabilities are considered at-risk?

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A recourse liability exists when the taxpayer is personally liable for the debt A taxpayers share of ...View the full answer

Fundamentals Of Taxation 2015

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