1. Veronica uses a June 30 fiscal year (July 1- June 30) she owns a fifty percent (50%) profit and loss interest in a calendar year (January 1 - December 31) Partnership. for the immediately preceeding year (January 1,2022 - December 31,2022) the partnership taxable income was $40,000 and for the current year (January 1,2023 - December 31,2023) the partnership taxable income ws $70,000. During the immediately preceeding year (January 1,2022 - DEcember 31,2022) the partnership paid veronica a guaranteed payment of $3,000 per month. Furing the current year (January 1,2023 - DEcember 31,2023) the partnership paid veronica a guaranteed payment $2,000 per mont. The remaining fifty percfent (50%) interest of the partnerhsip is owner by lisa a calendar year taxpayer (January 1 - December 31) who does not receive any guaranteed payment the amount of income from the partnership that lisa must report on her personal federal income tax return for her tax year that ends december 31,2023 is:
   1. $24,000
   2. $56,000
   3. $35,000
   4. $20,000

2.

Windsor and crown are caual Partners in the We Partnership. On December 31,2023 the Partnershio distributed to crown Cash of $6,000 and a parcel of land. The land had an adjusted basis partnership of $12,000 and a Fair Market Value of $ 10,000, immediately prior to the distribution. the basis of Partnership Interest was $16,000. Grown's basis in the land is:

a. $7,600

b.$12,000

c.$10,000

d. $2,500