Partner Spence Had the Following Items Reported on a Partnership

question 44

Multiple Choice

Partner Spence had the following items reported on a partnership Schedule K-1: Spence had a basis in his partnership interest of $23,000 at the beginning of the year. What is Spence's basis in his partnership interest at the end of the year?

• A) $21,000.
• B) $31,200.
• C) $54,200.
• D)$70,200.

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