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    #1

    Partnership and losses

    partnership has a loss, one major partner, several small percentage partners. Can the major partner take the total loss, or must the loss be distributed according to % of ownership to all partners?
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    #2
    Read the partnership agreement to see how losses are distributed. Does it say the major partner receives 100% of a loss? Absent a partnership agreement that addresses this issue, what does your state law say?

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      #3
      You can have a "special allocations" but they need to meet the tests of economic substance.

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