Question
Trish Potter is a 40% partner in The Rose Garden. The ACB of Trish's partnership interest at the beginning of 2020 was $50,000. During 2020,
Trish Potter is a 40% partner in The Rose Garden. The ACB of Trish's partnership interest at the beginning of 2020 was $50,000. During 2020, the partnership earned business income of $200,000 and a taxable capital gain of $12,000. Trish withdrew $10,000 from the partnership for personal expenses during the year. What is the ACB of Trish's partnership interest at the beginning of 2021?
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Digging For Disclosure Tactics For Protecting Your Firms Assets From Swindlers, Scammers, And Imposters
Authors: Kenneth S. Springer, Joelle Scott
1st Edition
0131385569, 9780131385566
