At the Beginning of the Current Year, Harrison's Adjusted Basis

question 21

Multiple Choice

At the beginning of the current year, Harrison's adjusted basis in FLM Partnership is $50,000. During the year, Harrison receives a cash distribution of $25,000. How much income must Harrison recognize because of the cash received?

• A)$- 0 -
• B)$10,000
• C)$15,000
• D)$20,000
• E)$25,000

---

Definitions:

Annoyed

The feeling of being irritated or bothered by something or someone, often leading to discomfort or frustration.

Habits

Basically, routine behaviors that are performed regularly and often automatically.

Social Allergy Effect

A phenomenon where repeated exposure to certain behaviors or habits of others leads to an increasingly negative and irritated reaction over time.

Irritated

Feeling annoyance or discomfort, often due to a specific cause or situation.