An examination of the PK Partnenaip' hak books provifes the follswing information for the current yeet. be abars in 30% of the patachthig's liabelieies for basis purposes. 2. What is Wartertle's affasted basis for the gartacritip interrat at the end of tac yeart b. How nach inoome must Wartonle repirt in bis tex return for the curent year? What Stefuctions night be avalable? Whas is the character of the income and what fypes of tiex mught apply io it? An examination of the PK Partnership's tax books provides the following information for the current year, Wartortle is a 30% general partner in partnerihip capital, profits, and losce. A sume that the adjusted basis of his parmenahip intertat is 560,000 at the beginning of the year, any he shases in 30% of the partnership's tiabilities for basis purposes. a. What is Wartortle's adjusted basis for the partnership interest at the end of the year? b. How much income must Wartortle repost on his tax retum for the current year? What deductions might be available? What is the character of the income and what types of tax might apply to it