Answer: . I, II, III, IV
Step-by-step explanation:
Here is the completed question:
The tax basis for an investor in a limited partnership that establishes the maximum loss deduction includes:
I original investment
II partnership debt assumed
III distributive share of partnership gains
IV distributive share of partnership losses
A. I only
B. I and II only
C. III and IV only
D. I, II, III, IV
It should be noted that an investor that is in a limited partnership will out forward a "tax basis" whereby there's limit limit for tax deductions that are allowed.
Therefore, the tax basis for an investor in a limited partnership that establishes the maximum loss deduction is original investment, partnership debt assumed, distributive share of partnership gains and the distributive share of partnership losses.