Required information

$[$The following infometion spplies to the questione alspisyed beiow?

Asron, Deanne, snd Keon formed the Blue Bell General Psitnerahlp at the beginning of the currert year. Aaron and

Deanne esch cortributed $$124,000,$ and Keon transferred sn scre of undeveloped land to the partnership. The land had a

tsx bas's of $$72,00$ and was appralsed of $$194,000.$ The land wss slao encumbered with a $$72,00$ nonrecourse

mortgsge for which no ane wss personally lisble. All three pserners agreed to splt profits snd lasses equally. At the end of

the first yesr, Blue Bell mode s $$8,400$ princlpal poyment on the mortgoge. For the first year of operstions, the partnership

records diaclosed the folowing informstion:

Required:

a$.$ Compute the adjusted bssla of esch portner's Interest In the partnership immedlately atter the formation of the portnership.

b$.$ Ust the sepsrate Items of portnershlp Income, gains, losses, and deductions that the portners must show on their Indwidual Income

tsx returns that include the results of the portherahlps first year of operstions.

d$.$ What are the portrers' solusted bases in their partnershlp interests st the end of the first yesr of operstions?

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Mequired $E$

Ust the separate items of partnership income, gains, loases, and doductiona that the pratners must show an their ind vidual income

tax returse that include the results af the partinership's first year of aperatians.

tax returs that include the results af the partnorahp's first yos of operstians.

be entered with a minus sian. Leave no arswers blank. Enter zaro if applicabie.