Larry's tax basis in his partnership interest at the beginning of the year was $10,000. If his

Question:

Larry's tax basis in his interest at the beginning of the year was $10,000. If his share of the debt increased by $10,000 during the year and his share of income for the year is $3,000, what is his tax basis in his interest at the end of the year?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...