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At the beginning of the year, Tonya purchased a 10% interest in AAA Partnership. She purchased her interest from an existing partner for $20,000. In
At the beginning of the year, Tonya purchased a 10% interest in AAA Partnership. She purchased her interest from an existing partner for $20,000. In June of that year, she contributed an additional $10,000 cash to the partnership, and in August, she contributed computer equipment. Her adjusted basis in the equipment was $5,500. Tonya's Schedule K-1 (Form 1065) for that year reported ordinary income of $2,000. What is Tonya's year-end adjusted basis in the partnership? $20,000 $22,000 $35,500 $37,500
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