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Updated over 3 years ago on . Most recent reply presented by

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6
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1
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Bob S.
1
Votes |
6
Posts

Partnership LLC Tax Question

Bob S.
Posted

We have a property held under an LLC partnership that manages and pays all mortgages/expenses, etc. The original mortgage loan is just with one of the partners. I understand the partners not listed on the original mortgage are limited on the losses they can take due to basis. If they contribute money each year to the partnership can they create basis? Any other solutions besides being added to the mortgage?

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