The LMN Partnership has the following assets and liabilities before any reduction for year-end principal payments on the liabilities. Assume the book basis and tax basis are the same amount.
Assets basis $300,000 value $400,000
Nonrecourse debt basis $500,000 value $500,000
If the partners have a deficit in their accounts of ($100,000), what is the amount of minimum gain chargeback if partnership taxable loss for the year is ($20,000) and the liabilities are reduced by $250,000?