Partner's tax basis in his partnership interest at the beginning of the year was $10,000. For the year, Partner's share of the partnership liabilities increased by $1,000. Also for the year, Partner was allocated $2,000 in ordinary business income, $500 of interest income, and $1,000 of tax-exempt income. Finally, Partner received cash distributions of $3,000 during the year. Determine Partner's tax basis in his partnership interest at the end of the year. Type your answer. Previous Next