Jayanthi and Krish each own a 50 percent general partner interest in the JK Partnership. The following information is available regarding the partnership’s 2022 activities:

a. Calculate the partnership’s ordinary (nonseparately stated) income, and indicate which items must be separately stated. 

b. Calculate Jayanthi’s allocable share of partnership items. 

c. If Jayanthi has no other sources of taxable income, what is her total gross income for 2022? 

d. At the beginning of the year, Jayanthi’s adjusted tax basis in her partnership interest was $25,000. Calculate her ending adjusted tax basis in her partnership interest.

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Sales revenue Selling expenses Depreciation expense Long-term capital gain Nondeductible expenses Partnership debts, beginning of the year Partnership debts, end of the year Partnership distributions Jayanthi Krish $500,000 200,000 30,000 9,000 2,000 100,000 120,000 50,000 50,000