Business, 28.11.2019 00:31 Donlito8535
Kristie is a 25% member in the klm llc. at the end of the year, klm has accounts payable of $60,000 (recourse to the llc but not guaranteed by the llc members), and a nonrecourse debt related to real estate of $300,000 (that debt meets the at risk limitation requirements). in addition, kristie personally guaranteed a $50,000 liability for klm’s equipment purchases. which one of the following shows the information that should be reported on kristie’s schedule k-1 for the year? a. $50,000 recourse debt, $15,000 nonrecourse debt, $75,000 qualified nonrecourse debt. b. $90,000 nonrecourse debt. c. $90,000 nonrecourse debt, $12,500 recourse debt. d. $65,000 recourse debt, $75,000 qualified nonrecourse debt. e. $15,000 recourse debt, $75,000 qualified nonrecourse debt.
Answers: 3
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Kristie is a 25% member in the klm llc. at the end of the year, klm has accounts payable of $60,000...
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