Sonia invested $80,000 this year to purchase a 30% interest in the BLA Partnership. The partnership reported $200,000 of net income from operations, a $2,000 short-term capital loss, and a $10,000 charitable contribution. In addition, the partnership distributed $20,000 to Sonia and $10,000 each to partners Louise and Amanda. If the partnership has no beginning or ending liabilities, what is Sonia's basis in her partnership interest at the end of the year?

Answer rating: 100% (QA)

Sonias basis in her partnership interest at the end of the year is 103600 Heres how we can calcul... View the full answer