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Partner E's beginning basis is 112,976. Included in Partner E's basis is debt of 38,709. Partner E receives a K-1 reporting the following information: Ordinary
Partner E's beginning basis is 112,976. Included in Partner E's basis is debt of 38,709. Partner E receives a K-1 reporting the following information: Ordinary Income 69,055 Long-term capital gain 10,918 Section 179 Deduction 34,538 Distributions 53,647 Non-deductible expenses 59,633 Non-recourse Liabilities 29,495 What is Partner E's ending basis?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
