Any Losses That Exceed the Tax Basis of a Partner

question 113

True/False

Any losses that exceed the tax basis of a partner in their partnership interest are suspended and carried forward for 20 years.

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Definitions:

Tasks

Set activities or duties to be completed in order to achieve a specific goal.

Position

A specific role or job within an organization that has defined responsibilities and authority.

Avoidance-Avoidance Conflict

A situation where an individual is faced with making a decision between two equally unappealing options.

Levels Of Conflict

The varying intensities of disagreement or discord within an individual, between individuals, or within groups.