Basis in the partnership interest at particular year

Reference no: EM13133244

Roger is a 30% partner in the ROC Partnership. At the beginning of the tax year, Roger's basis in the partnership interest was $60,000, including his share of partnership liabilities. During the current year, ROC reported net ordinary income of $40,000. In addition, ROC distributed $5,000 to each of the partners ($15,000 total). At the end of the year, Roger's share of partnership liabilities increased by $20,000. Roger's basis in the partnership interest at the end of the year is:

a) $60,000.

b) $75,000.

c) $87,000.

d) $120,000.

Reference no: EM13133244

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