ACC 317 WEEK 6 DISCUSSION Question

"Structuring the Partnership Agreement"

Click here to open the instructions for Form 1065, U.S. Return of Partnership Income. Review this form and any supporting schedules in preparation of preparing a partnership tax return.

• You were asked to form a partnership with your best friends, Holly and Jim. You will each be contributing property to the partnership. The building that you contributed has mortgage debt. How do you determine the partnership basis and holding period for the partners? How do you determine the partnership’s year end?

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"Structuring the Partnership Agreement"

Click here to open the instructions for Form 1065, U.S. Return of Partnership Income. Review this form and any supporting schedules in preparation of preparing a partnership tax return.

• You were asked to form a partnership with your best friends, Holly and Jim. You will each be contributing property to the partnership. The building that you contributed has mortgage debt. How do you determine the partnership basis and holding period for the partners? How do you determine the partnership’s year end?

"Structuring the Partnership Agreement"

Click here to open the instructions for Form 1065, U.S. Return of Partnership Income. Review this form and any supporting schedules in preparation of preparing a partnership tax return.

• You were asked to form a partnership with your best friends, Holly and Jim. You will each be contributing property to the partnership. The building that you contributed has mortgage debt. How do you determine the partnership basis and holding period for the partners? How do you determine the partnership’s year end?

"Structuring the Partnership Agreement"

Click here to open the instructions for Form 1065, U.S. Return of Partnership Income. Review this form and any supporting schedules in preparation of preparing a partnership tax return.

• You were asked to form a partnership with your best friends, Holly and Jim. You will each be contributing property to the partnership. The building that you contributed has mortgage debt. How do you determine the partnership basis and holding period for the partners? How do you determine the partnership’s year end?