Question: 21. Joe Quick and Jane Reddy are equal partners in the Quick and Reddy partnership. On the first day of the current taxable year, Joes

21. Joe Quick and Jane Reddy are equal partners in the Quick and Reddy partnership. On the first day of the current taxable year, Joes adjusted basis in his partnership interest is $10,000 and Janes adjusted basis is $2,000. During the year, Joe had withdrawals of $25,000 and Jane had withdrawals of $20,000. Given the following partnership activity for the year, determine each partners adjusted basis in Quick and Reddy at the end of the taxable year.

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