Final_757.jpe 2020 online - Word Layout References Mailings Review View Help Tell me what you want to do A. 21 AaBbce AaBbCcDE AaBbc Aabbcc AaB - abc X, X A.A.EE E ... 1 Normal 1 No Spac. Heading1 Heading 2 Tele Font Paragraph Styles $5,000 loss 11. Pis allocated his distributive share of a partnership's ordinary income. The effect of this is To decrease P's outside basis c To increase P's outside basis b. To increase P's inside basis To trigger double taxation of those earnings I 12. PX partnership has taken out a new loan of which 50% is allocated to partner P as his share. The effect of this a To increase P's outside basis c. To decrease P's outside basis 6. To increase P's inside basis d To decrease P's inside basis 13. On 1/1 of the current year, B's basis in this partnership interest - $32,000. He materially participates in the business of the partnerskap. On 12/1, B receives $1,000 cash distribution. His distributive share of long-term capital gain - 54.000 and of the partnership's ordinary loss - $45,000. B can dedact what portion of the loss in the current year? $43,000 c36.000 b. $32,000 d $35.000 14. Refer to the preceding question. If in the following year, B's share of a net short-term capital gain is $2,500 and of ordinary income is $14,000, Cannot deduct any loss that may be c. Has a remaining outside basis at the end of carried over from the prior year the following year - 58,500 6. Cas deduct loss that may be carried d. (b) and (c) over from the prior year 15 Twith that in the hai fainen nach ch O hp On