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Question 11 (1 point) Rodney invested $50,000 in a partnership interest during January of 2020. Under the partnership agreement, Rodney was allocated $25,000 of the
Question 11 (1 point) Rodney invested $50,000 in a partnership interest during January of 2020. Under the partnership agreement, Rodney was allocated $25,000 of the partnership's recourse loans at the time of entering into the partnership. During 2020, Rodney's share of income from the partnership was $8,000 and he withdrew $6,000 in cash. Also during the year, the partnership paid off $50,000 of its recourse loans and Rodney's allocable share of this loan reduction was $5,000. At the beginning of 2021, what was Rodney's amount at risk in the partnership investment? (Topic 8) DO NOT USE COMMAS OR DOLLAR SIGNS IN YOUR ANSWER!! A/
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