Jane purchases a 25% interest in the Charm City Partnership for $21,000 on January 1, and begins to materially participate in the partnership's business. The Charm City Partnership uses the calendar year as its tax year. At the time of the purchase, the Charm City Partnership has $2,200 in liabilities, and Jane's share is 25%. During the year, the Charm City Partnership incurs $101,000 in losses and its liabilities increase by $4,200. What is Jane's basis in his partnership interest on December 31?

$22,600 None of the above $25,250 $-0-

Enercio contributes $143,000 in exchange for a 40% interest in the calendar year ABC LLC, which is taxed as a partnership. This year, the LLC generates $114,400 of ordinary taxable income and has no separately stated income or expenses. Enercio withdrew $14,300 from the partnership during the year.

If an amount is zero, enter "0".

Enercio is taxed on what amount of ABC's income? $

How much of the $14,300 withdraw will Enercio be taxed? $