Barb and Chuck Each Have a 50% Ownership in Wren

question 35

Multiple Choice

Barb and Chuck each have a 50% ownership in Wren Partnership.Each partner has a partnership interest basis of $100,000.Wren's taxable income for the current year is $80,000,and it distributes $50,000 to each partner.Barb's basis in the partnership interest at the end of the year is:

• A)$50,000.
• B)$90,000.
• C)$100,000.
• D)$140,000.
• E)None of the above.

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Definitions:

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