Problemelaines original basis in the hornbeam partnership, Ask an Expert

Accounting

Problem:

Elaine's original basis in the Hornbeam Partnership was $25,000. Her share of the taxable income from the partnership since she purhased the interest has been $100,000, and Elain has received $75,000 in cash distributions from the partnership. Elain did ot recognize any gains as a result of the distribution.

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Question: Calculate Elaine's current basis in her partnership interest?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165748

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