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Partner Jamie has a basis of $10,000 in a partnership at the beginning of the year. She receives $5,000 in cash distributions, her distributive share
Partner Jamie has a basis of $10,000 in a partnership at the beginning of the year. She receives $5,000 in cash distributions, her distributive share of income is $3,000, and she receives an equipment distribution with a basis of $6,000 (FMV $12,000). Jamie's basis in her partnership interest at the end of the year is: $0. $2,000. $8,000. $13,000.
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