QUESTION & In 2018. Fannie and Leona formed an equal General Partnership. They each invested $20.000 Cash and the Partnership obtained a bank loan for $140.000 which is still preser outstanding. The Partnership had no income for two (2) years and incurred Deductible Expenses of $60,000 and $100.000 for the years of 2018 and 2019. respectively. In 2020 Partnership earned $130,000 of income. Each Partner's basis in their Partnership Interest at the end of 2020 is $190.000 OS 75.000 $ 80,000 $155.000 A $7.200 Taxable in QUESTIONS In 2018, Fannie and Leona formed an equal General Partnership. They each invested 520.000 Cash and the Partnership obtained a bank loan for $140.000 which is still presently outstanding The Partnership had no Income for two (2) years and incurred Deductible Expenses of $60,000 and $100.000 for the years of 2018 and 2019, respectively in 2020,th Partnership earned $130.000 of income. Each Partner's basis in their Partnership Interest at the end of 2020 is: $190.000 O $ 75,000 $ 80.000 $155.000 Camaratin The machine has an ad hacienda Fait QUESTIONS In 2018. Fannie and Leona formed an equal General Partnership. They each invested $20.000 Cash and the Partnership obtained a bank loan for 5140000 which is still presently outstanding. The Partnership had no Income for two (2) years and incurred Deductible Expenses of $60,000 and $100.000 for the years of 2018 and 2019, respectively in 2020, the Partnership earned $130,000 of income. Each Partner's basis in their Partnership Interest at the end of 2020 is: $190.000 $ 75,000 $ 80,000 $155.000