19. Which of the following are not considered part of a cash distribution in a partnership context: a. Cash b. Marketable Securities c. Unrealized receivables d. Decrease in liabilities of the partnership 20 You (yes, you as an individual) own 45% of Partnership A. Corporation B. How much of Corporation B is owned by Partnership You also own 100% of 090 b. 100% a, 45% d. 55% . 21. B enedict is a partner in Sherlock Enterprises LLC. He contributed $400 of cash plus $1,100 share of liabilities is $300 and his portion of the net loss for the year was $200. What is Benedict's basis at the end of the year? worth of property that has an adjusted basis of $700. At the end of the year, his a. $1,600 b. $1,600 c. $1,200 d. $2,300 22. Benedict is a shareholder in the S corporation Sherlock Enterprises, Inc. He contributed $400 of cash plus $1,100 worth of property that has an adjusted basis of $700. At the end of the year, his share of liabilities is $300 and his portion of the net loss for the year was $200. What is Benedict's basis at the end of the year? a. $1,300 b. $2,300 c. $900 d. $1,700 23. During 2017, DL, Inc., an S corporation for the whole year, earned the following income and loss items: ordinary income of $175,000; short-term capital gain of $94,000; long- term capital loss of ($91,000); tax-exempt income of $22,000; and made a charitable contribution of$ 18,000. At the end of the year, Diego Luis owned 50% of the stock of DL, Inc. Diego bought his shares from another shareholder on October 1,2017. How 19. Which of the following are not considered part of a cash distribution in a partnership context: a. Cash b. Marketable Securities c. Unrealized receivables d. Decrease in liabilities of the partnership 20 You (yes, you as an individual) own 45% of Partnership A. Corporation B. How much of Corporation B is owned by Partnership You also own 100% of 090 b. 100% a, 45% d. 55% . 21. B enedict is a partner in Sherlock Enterprises LLC. He contributed $400 of cash plus $1,100 share of liabilities is $300 and his portion of the net loss for the year was $200. What is Benedict's basis at the end of the year? worth of property that has an adjusted basis of $700. At the end of the year, his a. $1,600 b. $1,600 c. $1,200 d. $2,300 22. Benedict is a shareholder in the S corporation Sherlock Enterprises, Inc. He contributed $400 of cash plus $1,100 worth of property that has an adjusted basis of $700. At the end of the year, his share of liabilities is $300 and his portion of the net loss for the year was $200. What is Benedict's basis at the end of the year? a. $1,300 b. $2,300 c. $900 d. $1,700 23. During 2017, DL, Inc., an S corporation for the whole year, earned the following income and loss items: ordinary income of $175,000; short-term capital gain of $94,000; long- term capital loss of ($91,000); tax-exempt income of $22,000; and made a charitable contribution of$ 18,000. At the end of the year, Diego Luis owned 50% of the stock of DL, Inc. Diego bought his shares from another shareholder on October 1,2017. How