Ted contributed $25,000 in cash for a 25% interest in a partnership. His share of the partnership income for the year was $20,000. In addition, the partnership reported on his Schedule K-1 for the year Ted's Section 179 share of $4,000, and a share of rental income of $3,500. 

What is Ted's tax capital account balance reported on his Schedule K-1 for the tax year?

Answer rating: 100% (QA)

To calculate Teds tax capital account balance reported on his Schedule K1 we need to consi... View the full answer