Bill owns a 5% interest in a limited partnership. The adjusted cost base of his partnership interest

Question:

Bill owns a 5% interest in a limited The adjusted cost base of his interest at the beginning of the current year was $40,000. For the current year Bill was allocated $8,000 of capital gains and $22,000 of business income from the At the end of the current year Bill had a loan from the in the amount of $12,000.
Determine Bill’s at-risk amount at the end of the current year. Income Tax Act reference: ITA 96(2.2). Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...