Elaine's original basis in the Hornbeam Partnership was $25,000. Her share of the taxable income from the partnership since she purchased the interest has been $100,000, and Elaine has received $75,000 in cash distributions from the partnership. Elaine did not recognize any gains as a result of the distributions. Calculate Elaine's current basis in her partnership interest.
Paper#25123 | Written in 18-Jul-2015Price : $22