Question: (5 points) During the current year, TAZ Partnership reported the following items or receipts and expenditures: Sales $100,000 Utilities 5,000 Rent expense 15,000 Salaries to

(5 points) During the current year, TAZ Partnership reported the following items or receipts and expenditures:

Sales $100,000

Utilities 5,000

Rent expense 15,000

Salaries to employees 30,000

Guaranteed payment to partner, Zoe 20,000

Taxable interest income 2,00

Distribution to partner, Tony 6,000

Compute the non-separately-stated income of the partnership for the year.

Tony, a 40% partner, has a beginning A/B in his partnership interest of $14,000.

What is his ending basis for the year?

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