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<p class="MsoNormal">Clients are a small group who purchase a small building with a bank loan. Some partners officially guaranteed the loan by signing personal guarantees. Some partners did not sign any such guarantees but promised the other partners to pony
up their pro rata share if the guarantors ever had to pay. Do the verbal guarantors get a portion of the basis assigned to them? Any cite to code or cfr or revenue ruling would be appreciated.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Roger Hawkes, WSBA 5173<o:p></o:p></p>
<p class="MsoNormal">19909 Ballinger Way NE<o:p></o:p></p>
<p class="MsoNormal">Shoreline, WA 98155<o:p></o:p></p>
<p class="MsoNormal"><a href="http://www.hawkeslawfirm.com/">www.hawkeslawfirm.com</a><o:p></o:p></p>
<p class="MsoNormal">206 367 5000 voice<o:p></o:p></p>
<p class="MsoNormal">206 367 4005 fax<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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