Alex is a partner in a calendar year partnership. His partnership Schedule K-1 for the current tax year showed the following: 
Alex has a $7,000 loss carryforward from the partnership last year, which he could not deduct because of the basis limitation. What is his tax basis in his partnership interest at the end of the current tax year?
Definitions:
Pharmacy Authorization
The process by which a pharmacy obtains approval to dispense a prescribed medication to the patient, often requiring verification of medical necessity from a healthcare provider.
Licensed Practitioner
A professional who has received the necessary license to practice in their specific field of expertise.
Emergency Room
A medical treatment facility specializing in emergency medicine, where patients with acute illnesses or injuries are treated.
Distressing Pain
Severe discomfort or ache that negatively affects a person's well-being and quality of life.
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