Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year Aaron and Deanne each contributed $130,000, and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $73.000 and was appraised at $200.000. The land was also encumbered with a $73000 nonrecourse mortgage for which no one was personally llable. All three partners agreed to split prolits and losses equally. At the end of the first year, Blue Bell made a $9,000 principal payment on the mortgage. For the first year of opecations, the partnership records disciosed the following information: equired: tax returns that include the results of income, gains, losses, and deductions that the partners mint show on their indivitua d. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. Compute the adjusted basis of each partner's interest in the partnership immediately after the formation of the parthership. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar ammont? List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individuar income tax returns that include the results of the parthership's first year of operations. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Negative amounts shomeld be entered with a minus sign. Leave no answers blank. Enter zero if applicable. a. Compute the adjusted Dasis or each partners interest in the parthership immediatery atter the formanon or the parthetsnip. b. List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individial incom tax returns that include the results of the partnership's first year of operations. d. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year Aaron and Deanne each contributed $130,000, and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $73.000 and was appraised at $200.000. The land was also encumbered with a $73000 nonrecourse mortgage for which no one was personally llable. All three partners agreed to split prolits and losses equally. At the end of the first year, Blue Bell made a $9,000 principal payment on the mortgage. For the first year of opecations, the partnership records disciosed the following information: equired: tax returns that include the results of income, gains, losses, and deductions that the partners mint show on their indivitua d. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. Compute the adjusted basis of each partner's interest in the partnership immediately after the formation of the parthership. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar ammont? List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individuar income tax returns that include the results of the parthership's first year of operations. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Negative amounts shomeld be entered with a minus sign. Leave no answers blank. Enter zero if applicable. a. Compute the adjusted Dasis or each partners interest in the parthership immediatery atter the formanon or the parthetsnip. b. List the separate items of partnership income, gains, losses, and deductions that the partners must show on their individial incom tax returns that include the results of the partnership's first year of operations. d. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations? Complete this question by entering your answers in the tabs below. What are the partners' adjusted basis in their partnership interests at the end of the first year of operations? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount
