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Anish contributed $5,000 for a 25% interest in a mobile clothing boutique. She also contributed a point of sale system with a fair market value
Anish contributed $5,000 for a 25% interest in a mobile clothing boutique. She also contributed a point of sale system with a fair market value of $800 and an adjusted basis of $500. During the year, the boutique earned a profit of $16,000. What is Anish's partnership basis in this business at the end of the year? $5,000 $9,500 $9,800 $21,000
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