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At the beginning of the year, Ramona purchased a 10% in GGG Partnership. She purchased her interest from an existing partner for $25000. In March
At the beginning of the year, Ramona purchased a 10% in GGG Partnership. She purchased her interest from an existing partner for $25000. In March of that year, she contributed an an additional $10000 cash to the partnership and in April she contributed computer equipment. Her adjusted basis in th equipment was $5500. Ramona's schedule K-1 (form 1065) for that year reported ordinary of $2000. What is Ramon's year end adjusted basis in the partnership?
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