In 2023, Wilmah Lansing invested in the Eagle Limited Partnership by paying $15,000 cash and signing a $40,000 nonrecourse note. She also pledged $25,000 worth of securities for a loan obtained by the partnership. Her basis in the securities was $10,000. Eagle allocated to Wilmah net income of $10,000 from operations in 2023. What amount does Wilmah have at risk as of January 1, 2024? Would your answer be different if she also withdrew $5,000?

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shaynatjohnson shaynatjohnson

21-01-2024
Business

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In 2023, Wilmah Lansing invested in the Eagle Limited Partnership by paying $15,000 cash and signing a $40,000 nonrecourse note. She also pledged $25,000 worth of securities for a loan obtained by the partnership. Her basis in the securities was $10,000. Eagle allocated to Wilmah net income of $10,000 from operations in 2023. What amount does Wilmah have at risk as of January 1, 2024? Would your answer be different if she also withdrew $5,000?

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Wilmah's at-risk amount is the amount of money that she has invested in the partnership and can potentially lose if the partnership fails. It is calculated by taking into account the cash investment, the nonrecourse note, and any personal loans made to the partnership.

In this case, Wilmah's at-risk amount is calculated as follows:
Cash investment: $15,000
Nonrecourse note: $40,000
Personal loan: $25,000 (value of securities pledged)

Therefore, Wilmah's at-risk amount is $80,000 ($15,000 + $40,000 + $25,000).

If Wilmah also withdrew $5,000, her at-risk amount would decrease as she would be reducing her investment in the partnership. In this case, her at-risk amount would be $75,000 ($80,000 - $5,000).