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