Ryan Is a 25% Partner in the ROCC Partnership

question 104

Multiple Choice

Ryan is a 25% partner in the ROCC Partnership.At the beginning of the tax year,Ryan's basis in the partnership interest was $90,000,including his share of partnership liabilities.During the current year,ROCC reported net ordinary income of $100,000.In addition,ROCC distributed $10,000 to each of the partners ($40,000 total) .At the end of the year,Ryan's share of partnership liabilities increased by $10,000.Ryan's basis in the partnership interest at the end of the year is:

• A)$90,000.
• B)$100,000.
• C)$115,000.
• D)$125,000.

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Definitions:

Design Thinking

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