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S corps and partnerships are both pass through entities, but the pass through rules are NOT identical. What are the differences in terms of limitations due to basis? There are THREE hurdles that must be cleared with both S corps and partnerships to pass through losses. First, having enough basis (see above, and the differences between the rules for the two of these). Second, the at-risk rules under Sec. 465. Third, the passive activity loss rules under Section 469. Please discuss: 1. The three sets of rules and what are they all about.
2. The differences in basis limitation rules for partnerships vs. S corps, ESPECIALLY in terms of LIABILITIES and how these affect the amount of losses that can be passed through under the basis limitation rules. (A change in the liabilities of a partnership or S corp can affect the basis of the partners, but does it affect S corp stock basis? How do liabilities affect partners vs. S corp shareholders?)
3. Does it matter if the liability is recourse or nonrecourse, and if a general partner versus a limited partner?
Illustrate what is Ms. K's deductible loss from DKC for 2011, if she had $4,500 in income from other passive investments?
Prepare a production budget, in units, for each of the first four months of the year and Prepare a direct materials budget, in dollars, for each of the first three months of the year.
If selling prices of finished products Y and Z remain constant, percentage of joint costs allocated to product Y and product Z would
The total cost was $20,000, and Anne deducted $13,000 as medical expenses. Find what is Anne's realized gain?
The agreement made no explicit allocation of any of the $600,000to Clyde's agreement not to compete against Red. How should Clyde treat the $600,000 payment on his 2010 tax return?
During the month, merchandise is sold for $23,500 cash and for $34,000 on account. The cost of merchandise sold is $41,500. Illustrate what is the amount of gross profit?
What is the amortization amount for every intangible asset in the existing year?
Which costs are relevant and which are not relevant in the choice between these two alternatives? Illustrate what is the differential cost between the two alternatives?
A friend has suggested that Ira sell the stock and contribute the 20,000 in proceeds rather than contribute the stock. Should Ira follow her friends advice? Why?. Assume the fair market value is only $13,000. In this case, should Ira follow the fri..
NFP's flexible budget allows how many kg's of inputs for the most current operating period
Certify authorship of your work, using Certificate of Originality coversheet posted in the Course Materials forum. This is required for all formal assignments.
Impact on Net Income due to changes in prices - If the plugs are purchased and the facility rented, Mennekes Company wishes to realize $100,000 in savings annually. To achieve this goal, what must be the minimum annual rent on the facility?
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