At-Risk Basis & Accounts Payable
In the calculation of partners' Outside Basis, we add back any increase in Partners' liabilities. I understand this to include the partnership's accounts payable. For At-Risk basis, we are to remove from this any nonrecourse liabilities. It is clear that nonrecourse debt amounts should be removed, but are the partnership's accounts payable considered included in the nonrecourse debts to be removed?
