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Please input the answers as suggested.. Return to question Zelda owns a 60 percent general interest in Y2 Partnership. At the beginning of 2019, the

Please input the answers as suggested..

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Return to question Zelda owns a 60 percent general interest in Y2 Partnership. At the beginning of 2019, the adjusted basis in her Y2 interest was $95,000. For 2019, Y2 generated a $210,000 business loss, earned $14,600 dividend and interest income on its investments, and recognized a $6,200 capital gain. YZ made no distributions to its partners and had no debt. In 2020, YZ generated $7,000 10 10 ordinary business income and $18,000 dividend and interest income. The partnership made no distributions. At the end of the points year, Y2 had $21,000 debt. Required: a. How much partnership income will Zelda report on her 2020 return? Assume the excess business loss limitation does not apply. b. Compute Zelda's adjusted basis in her YZ interest at the end of 2020. 9 Answer is complete but not entirely correct. Complete thls questlon by entering your answers In the tabs below. RequirEd A How much partnership income will Zelda report on her 2020 return? Assume the excess business loss limitation does not apply. (Losses should be indicated by a minus sign.) $ 113.520 9 Required B > Required A Required B Compute Zelda's adjusted basis in her YZ interest at the end of 2020. Adjusted basis $ (56,520) X

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