Business, 24.08.2021 01:30, mhortin

Which of the following statements is correct regarding the manner in which partnership liabilities are reflected in the partners' bases in their partnership interests? a. Nonrecourse debt is not allocated to any partner.
b. Recourse debt is allocated to the partners to the extent of the partnership’s minimum gain in the property.
c. An increase in partnership debts results in a decrease in the partners’ bases in the partnership interest.
d. A decrease in partnership debt is treated as a distribution from the partnership to the partner and reduces the partner’s basis in the partnership interest.
e. Partnership debt is not reflected in the partners’ bases in their partnership interests.

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Which of the following statements is correct regarding the manner in which partnership liabilities a...