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Level 4
January 29, 2025
Question

Cancellation of Debt Income from a partnership

Good afternoon,

I am working on a partnership tax return with one general partner and several limited partners.  It has cancellation of debt income to pass through to the partner(s).

Does the CODI pass through to all the partners (general and limited) or just the general partner?

I thank you in advance for your input.

Thank you!

 

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