Question: Refer to the facts in the preceding problem In 2015

Refer to the facts in the preceding problem. In 2015, YZ generated $7,000 ordinary business income and $18,000 dividend and interest income. The partnership made no distributions. At the end of the year, YZ had $21,000 debt.
a. How much partnership income will Zelda report on her 2015 return?
b. Compute Zelda’s adjusted basis in her YZ interest at the end of 2015.

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  • CreatedNovember 03, 2015
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