Problem $20-75($LO $20-5,$ LO $20-6)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Juan Diego began the year with a tax basis in his partnership interest of $$52,200.$ During the year, he was allocated

$$20,880$ of partnership ordinary business income, $$73,080$ of $$1231$ losses, and $$31,320$ of short$-$term capital losses and

received a cash distribution of $$52,200.$

Note: Do not round intermediate calculations.

Problem $20-75$ Part a $($Algo$)$

a$.$ What items related to these allocations does Juan Diego actually report on his tax return for the year? $[$Hint$.$ See Regulations $1\mathrm{.}704-$

$1($d$)(2)$ and Revenue Rule $66-94.]$