Partners Cannot Carry Over Partnership Losses That Exceed the Basis

question 90

True/False

Partners cannot carry over partnership losses that exceed the basis in their partnership interests.

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Definitions:

Folder's Properties

Information and settings associated with a folder in a file system, such as its name, location, size, and permissions for access and modification.

Desktop Format

Refers to the layout, icons, and overall appearance of a computer's desktop environment or the file format optimized for desktop viewing.

Properties Dialog

A window in software applications that displays settings or characteristics of a file, program, or device.

Hard Drive

A non-volatile storage device that stores digitally encoded data on rapidly rotating platters with magnetic surfaces.