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eAssignmentvain.do invoker=&takeAssignmentSessionlocator=&inprogress=false To eBook Calculator Print Item Problem 10-45 (LO. 9, 10, 12, 14) The BCD Partnership plans to distribute cash of $20,000 to partner Brad at the end of the tax year. The partnership reported a loss for the year, and Brad's share of the loss is $10,000. At the beginning of the tax year, Brad's basis in his partnership interest, including his share of partnership liabilities, was $15,000. The partnership expects to report substantial income in future years. If an amount is zero, "0". a. Generally, in what order are the allocated items applied for calculating Brad's ending basis in his partnership interest? Losses may be deducted under $ 704(d). Third X Distributions from the partnership decrease basis. Second . Contributions and income items increase the basis. First Allocation of deductions. Third X Feedback Check My Work A partner's basis in the partnership interest is important for determining the treatment of distributions from the partnership to the pa establishing the deductibility of partnership losses, and calculating gain or loss on the partner's disposition of the partnership interest b. How much gain or loss will Brad report for the tax year? As a result of the $20,000 distribution, Brad's basis is $ 20,000 X and reports a s 5,000 gain for the tax year. Feedback Check My Work Partially correct