Bart Contributes $100,000 to the Fish Partnership for a 40 $$\begin{array} { l r } \text { First Bank (recourse) } & \$ 10,000 \\\text { Second Bank (nonrecourse) } & 30,000\end{array}$$

question 57

Multiple Choice

Bart contributes $100,000 to the Fish Partnership for a 40% interest.During the first year of operations, Fish has a profit of $20,000.At the end of the first year, Fish has outstanding loans from the following banks. $$\begin{array} { l r } \text { First Bank (recourse) } & \$ 10,000 \\\text { Second Bank (nonrecourse) } & 30,000\end{array}$$ What is Bart's at-risk basis in Fish at the end of the first year?

• A)$100,000
• B)$108,000
• C)$112,000
• D)$124,000

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