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Dan is a 50% partner in the CD partnership. At the start of 2019, Dans tax basis in his partnership interest is $11,500. No payments
Dan is a 50% partner in the CD partnership. At the start of 2019, Dans tax basis in his partnership interest is $11,500. No payments were made from the partnership to Dan, or vice versa, during the year. For 2019, the partnership reports a section 1231 loss of (28,000) and an ordinary loss of (12,000). The amount of ordinary loss dan can deduct in 2019 from CD is:
a, 0
b. 3450
c.5750
d.6000
e.None of the above
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