Partner Jamie Has a Basis of $10,000 in a Partnership

question 50

Multiple Choice

Partner Jamie has a basis of $10,000 in a partnership at the beginning of the year.She receives $5,000 in cash distributions,her distributive share of income is $3,000,and she receives an equipment distribution with a basis of $6,000 FMV $12,000) .Jamie's basis in her partnership interest at the end of the year is:

• A)$13,000.
• B)$0.
• C)$8,000.
• D)$2,000.

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