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37.Oscar and Leonard are general partners who share profits and losses 60% and 40%, respectively. The tax basis of Oscars partnership interest as of January
37.Oscar and Leonard are general partners who share profits and losses 60% and 40%, respectively. The tax basis of Oscars partnership interest as of January 1, 2022 was Oscar, $24,000. During 2022, the partnership reported ordinary income from trade or business activities of $40,000, long-term capital loss of $10,000, and non-deductible meals and entertainment expenses of $4,000. What is the amount of Oscars tax basis in his partnership interest as of January 1, 2022?
a. 284--
b 41600
c. 39600
d. 45600
e none of the above
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