At the beginning of the tax year, Barnaby's basis in the BBB Partnership was $118,800, including his $11,880 share of partnership debt. At the end of the tax year, his share of the debt was $17,820. His share of the partnership's income for the year was $47,520, and he received cash distributions totaling $29,700. In addition, his share of the partnership's nontaxable income was $2,376.

Determine Barnaby's basis at the end of the tax year.

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Answer Solution Therefore from above computation barn... View the full answer