I have a question concerning liabilities such as accounts payble, payroll taxes payable, sales tax payable,etc for an accrual basis LLC. I understand that liabilities for a LLC are technically considered non-recourse, and in order to get basis partner's should guarantee loans. Or that LLC agreements shouldn't have a deficit restoration provision because it goes against the grain of limited liabilty.
How does an LLC get basis for these type of liabilities. Do they put a clause in the partnership agreement guaranteeing these liabilities? Or do you just consider the above type of liabilites non-recourse on the K-1s and no at risk basis?
Any input on how this is handled for preparation purposes on in general would be appreciated.
Thanks