• IRC 752 --­ Allocation of Debt among Partners -- The Fundamentals
  • August 12, 2011 | Author: Belan K. Wagner
  • Law Firm: Wagner Kirkman Blaine Klomparens & Youmans LLP - Mather Office
  • This month's newsletter focuses on an oldie but goodie: IRC 752—Allocation of debt among partners—the fundamentals. For various reasons, we have been called up on to consult with accounts on the allocation of liabilities among partners—remember those boxes you have to check on the K-­-1's? Almost invariably the liability allocations are wrong. It is not surprising since the rules are arcane and generally unknown to all but a select few.