Discussion:Corporation owns a partnership
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Revision as of 23:04, 8 April 2009
Discussion Forum Index --> Advanced Tax Questions --> Corporation owns a partnership
Discussion Forum Index --> Tax Questions --> Corporation owns a partnership
Www.cpa1.biz (talk|edits) said: | 8 April 2009 |
| Almanacers,
I wanted to confirm this: A corporation owns a partnership. The corporation has 0 basis in the partnership and shows a big loss for 2008. The partership gaves distributions to the corporation. There are no recourse loans or any basis like I said. My colleuge thinks these distributions are taxable to the corp because they exceed the corps basis of that partnership and it is a distribution. Please tell me if you have ever run into this and how we could avoid the corp from paying taxes on excess of basis distributions. | |
