Some comments:
- Your assumption is incorrect. The items you listed are NOT by default recourse. The only exception would be if this was a general partnership or an LP with at least one GP.
- Exactly what type of entity are you working with?
- If anything other than a GP, or an LP that in fact has one GP, have the member's or partner's guaranteed any of the debt you are referring to?
- What type of a business activity do you have?
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
