Business, 16.04.2020 00:23 Edwardwall

Partner Beth has a basis of $10,000 in a partnership at the beginning of the year. She receives $6,000 in cash distributions, her distributive share of income is $5,000, and she receives a land distribution with a basis of $8,000 (FMV $20,000). What is Beth’s partnership interest basis at the end of the year?

a. $0
b. $1,000
c. $9,000
d. $10,000

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Partner Beth has a basis of $10,000 in a partnership at the beginning of the year. She receives $6,0...

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