Dan Purchases a 25% Interest in the Haymarket Partnership for $20,000

question 104

Essay

Dan purchases a 25% interest in the Haymarket Partnership for $20,000 on January 1,2010,and begins to materially participate in the partnership's business.The Haymarket Partnership uses the calendar year as its tax year.At the time of the purchase,the Haymarket Partnership has $2,000 in liabilities,and Dan's share is 25%.During the year,the Haymarket Partnership incurs $100,000 in losses and its liabilities increase by $4000.What is Dan's basis in his partnership interest on December 31,2010?

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

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Definitions:

Total Combined Assets

The aggregate value of all assets owned by an entity, including cash, investments, property, and any other resources of value.

Social Change

Refers to significant alterations over time in behavior patterns and cultural values and norms of society.

Charitable Nonprofits

Organizations dedicated to furthering a social cause or advocating for a shared point of view without seeking profit margins.

Largest Subsector

The biggest segment within a sector, often characterized by having the most organizations, employees, or revenue.