1. Lex and Luther are equal partners in the accrual basis LL Partnership. At the beginning of 2018, Lexs basis in the partnership (including his share of liabilities) was $150,000. At the beginning of 2018, the partnerships debts totaled $120,000 payable to unrelated parties. All partnership debt is shared equally between the partners. The following is information about LLs 2018 operations: Ordinary Income 110,000 Interest from City Bond 5,000 1231 Gain 8,000 LTCL 2,000 STCL 1,700 Political Contributions 3,500 Charitable Contribution to Red Cross 1,000 Cash distribution to Lex 19,000 Payment of Lexs personal expenses 2,000 At the end of 2018 partnership debt payable to unrelated parties is $170,000. a. What will Lex include in his taxable income for 2018 as a result of LLs activities? b. What is Lexs basis in the partnership interest at the end of 2018?