Which of the Following Liabilities Would Be Considered Nonrecourse

question 22

Multiple Choice

Which of the following liabilities would be considered nonrecourse?

• A)A bank loan for which the taxpayer is personally liable.
• B)Credit card debt.
• C)A $20,000 real estate loan which allows the bank to take the real estate if the taxpayer stops making payments on the loan.
• D)All of the above are nonrecourse liabilities.

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