Delta is a member of a partnership with a December 31 year-end. Delta's share of the 2017
Fantastic news! We've Found the answer you've been seeking!
Question:
Delta is a member of a partnership with a December 31 year-end. Delta's share of the 2017 partnership allocations was as follows: business loss of $25,000 and charitable donations of $1,000. Delta took draws totaling $10,000 from the partnership during 2017. Delta's adjusted cost base (ACB) on January 1, 2017, was $59,000. What is the ACB of Delta's partnership interest on January 1, 2018?
a.$33,000
b.$24,000
c.$25,000
d.$23,000
Related Book For
Managers and the Legal Environment Strategies for the 21st Century
ISBN: 978-1111530631
7th edition
Authors: Constance E. Bagley
Posted Date: