Instructions: Identify the tax issue(s) suggested by the following situation and state each issue in the form of a question.  List as many tax research issues as you can to determine the tax consequences of the following transaction. 

Do NOT attempt to answer any of the questions you raise. 

Jorge, a limited partner in the EFJ Partnership, has a 20% interest in partnership capital, profits, and losses.  His basis in the partnership interest is $20,000 before accounting for events from the current year.  In December of the current year, the EFJ Partnership repaid a $100,000 nonrecourse liability.  The partnership earned $20,000 of ordinary income this year. What tax issues should Jorge consider with respect to reporting the results of this year's activities for the EFJ Partnership on his personal return?