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ts 1 00:59:21 TB ES Qu. 20-97 (Algo) Ruby's tax basis in her partnership interest... Ruby's tax basis in her partnership interest at the
ts 1 00:59:21 TB ES Qu. 20-97 (Algo) Ruby's tax basis in her partnership interest... Ruby's tax basis in her partnership interest at the beginning of the partnership's tax year was $14,100. The following items were included in her Schedule K-1 from the partnership for the year. Cash Distribution Ordinary Business Loss Short-Term Capital Gains Reduction in Ruby's Share of Partnership Debt $ 3,100 $ (12,900) $ 3,100 $ 2,900 Determine what amounts related to these items Ruby will report on her tax return assuming her tax basis and at-risk amount are equal and that she is a material participant in the partnership's activities. Further, assume that Ruby and her husband, Gerald, are not involved in any other trade or business and that they file a joint return every year.
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