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Zelda owns a 60 percent general interest in Y2 Partnership. At the beginning of 2021, the adjusted basis in her YZ interest was $95,000. For
Zelda owns a 60 percent general interest in Y2 Partnership. At the beginning of 2021, the adjusted basis in her YZ interest was $95,000. For 2021, YZ generated a $210,000 business loss, earned $14,600 dividend and interest income on its investments, and recognized a $6,200 capital gain. YZ made no distributions to its partners and had no debt. In 2022, YZ generated $7,000 ordinary business income and $18,000 dividend and interest income. The partnership made no distributions. At the end ofthe year, YZ had $21,000 debt. Required: 3. How much partnership income will Zelda report on her 2022 return? Assume the excess business loss limitation does not apply. in. Compute Zelda's adjusted basis in her YZ interest at the end of 2022. Complete this question by entering your answers in the tabs below. Required A Required B Compute Zelda's adjusted basis in her YZ interest at the end of 2022.
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