How to answer at risk assets

[slewis501948]

If I am limited partner with cash paid at initiation of partnership, and I am 40% limited partner, are my assets at risk?  This is LLC for rental of land only.

[Rick19744]

You need to be maintaining a tax basis schedule of your investment in the LLC.  If you know your tax basis, you know whether or not you are at-risk.

The basis schedule needs to be updated annually for the applicable lines on the K-1.  As long as your tax basis is positive, you will be at-risk.