Question: Assume the same facts as in Problem 49 and assume

Assume the same facts as in Problem 49, and assume that Suz-Anna pre pares the capital account roll forward on the partners' Schedules K-1 on a tax basis.
a. What is Suzy's capital account balance at the beginning of the tax year?
b. What is Suzy's capital account balance at the end of the tax year?
c. What accounts for the difference between Suzy's ending capital account and her ending tax basis in the partnership interest?

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  • CreatedSeptember 09, 2015
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