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How is the Recourse value calcluated for partners liabilities?
I loaned money to my business, have mortgage balance, and have credit card balance listed as liabilities. However, I am getting an error that the program will not allocate recourse debt to LLC members. I did not list any recourse debt but the form states over $100,000 as a value for beginning and ending liabilities. How is the values for recourse calculated since I did not put any values for recourse debt?
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March 11, 2020
2:46 PM