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Melinda is a partner in the YLK Partnership. She has an outside basis of $20,000 at the beginning of the year. During the year she
Melinda is a partner in the YLK Partnership. She has an outside basis of $20,000 at the beginning of the year. During the year she is allocated $4,000 of ordinary income, a $2,000 long-term capital loss, and withdraws $3,000 from the partnership. What is her outside basis afterward? DO NOT USE COMMAS OR DOLLAR SIGNS IN YOUR ANSWER!! Answer: 17000 Question 2 0/1 point Maria is a partner in the YLK Partnership. She has an outside basis of $10,000 at the beginning of the year. During the year she is allocated $4,000 of ordinary income and withdraws $12,000 from the partnership. What is the amount of gain because of the partnership withdrawal? DO NOT USE COMMAS OR DOLLAR SIGNS IN YOUR ANSWER!! Answer: 2000
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