Bryan is a 30 percent general partner in BTP Partnership. His basis in his partnership interest at
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Question:
Bryan is a 30 percent general partner in BTP Partnership. His basis in his partnership interest at the beginning of the year was $40,000. During the year, the partnership reported a $30,000 loss and paid off a $120,000 recourse debt. What is Bryan’s year-‐end basis in his partnership interest?
a. 9,000
b. $5,000
c. $4,000
d. $0
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0133856439
7th edition
Authors: Arthur J. Keown
Posted Date: