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The KL Partnership is owned equally by Kayla and Lisa. At the beginning of the year, Kayla's tax basis in her KL interest is $20,000

The KL Partnership is owned equally by Kayla and Lisa. At the beginning of the year, Kayla's tax basis in her KL interest is $20,000 and Lisa's tax basis is $16,000. Partnership debt did not change from the beginning to the end of the tax year. KL reported the following income and expenses for the current tax year. Assume total assets are $680,400.

Sales revenue $150,000
Cost of sales 80,000
Distribution to Lisa 15,000
Depreciation expense 20,000
Utilities 14,000
Rent expense 18,000
Long-term capital gain 6,000
Payment to Mercy Hospital for Kayla's medical expenses 12,000

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How mach is the partiensiglt orderary iroomen an paget 17 Line 1:1 x Lewe Pa: 1 x Une 19(a)!! x Fwinet + ges herat - If required, resed anseusts to the mearest dellur. + Make occlistic ansumptiens aboet amy missieg data- (A) rebocit What itemer mil Kiryla and Lias rroort on ther federal income tas returna? Kayle and Leb ail each report 1 x on ther schesile t asd 1 x on scheduke Farest * Ctes ve twet trotewet d. What a esch partrer's besis ie her pertherkhe interest at the exd of the tax yes? Puetes thear u3 wot incenect income (ost) es poget i? x. vear Dessa beflure tows alfocietion: 1 Criney less allowed undee 5 Jockid: Whe reports a yeac. buria before lows aloration i Ordinery bous allowed ander if towejdi: she resertat in How mach is the partiensiglt orderary iroomen an paget 17 Line 1:1 x Lewe Pa: 1 x Une 19(a)!! x Fwinet + ges herat - If required, resed anseusts to the mearest dellur. + Make occlistic ansumptiens aboet amy missieg data- (A) rebocit What itemer mil Kiryla and Lias rroort on ther federal income tas returna? Kayle and Leb ail each report 1 x on ther schesile t asd 1 x on scheduke Farest * Ctes ve twet trotewet d. What a esch partrer's besis ie her pertherkhe interest at the exd of the tax yes? Puetes thear u3 wot incenect income (ost) es poget i? x. vear Dessa beflure tows alfocietion: 1 Criney less allowed undee 5 Jockid: Whe reports a yeac. buria before lows aloration i Ordinery bous allowed ander if towejdi: she resertat in

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