What is ryans year-end basis in his partnership interest

Assignment Help Other Subject
Reference no: EM132317399

Question

Kevin is a 30 percent general partner in ABC Partnership. His basis in his partnership interest at the beginning of the year was $40,000.

During the year, the partnership reported a $30,000 loss and paid off a $120,000 recourse debt. What is Ryan's year-end basis in his partnership interest?

Reference no: EM132317399

Questions Cloud

Calculate the amount of overhead over or under applied : During March 2019, Alaska Corporation recorded $269,000 of costs related to factory overhead. Alaska's overhead application rate is based on direct labor hours.
What accounts and explanaton debit and credit amounts : The unadjusted balance of Office supplies at Dec 31 is $5000 and at year end the office supplies on hand totaled 1600.
Determine the number of shares issued : Determine the number of shares issued and the number of shares outstanding for your balance sheet. Common stock is $487,500.
How is her net gain taxed : If all gains and losses are long-term and Sue is single and has $40,000 of other income, how is her net gain taxed?
What is ryans year-end basis in his partnership interest : Kevin is a 30 percent general partner in ABC Partnership. His basis in his partnership interest at the beginning of the year was $40,000.
Kims adjusted basis for her partnership interest at year end : Kim and Nicole form the General Partnership. Kim contributed $20,000 cash in exchange for her 50 percent partnership interest.
Prepare a pitch that presents a compelling business case : Prepare a pitch that presents a compelling business case to secure financial backing - This facilitates an appreciation of what potential investors
Compute the equation of the regression line : Victorian Institute of Technology - MITS6002 Business Analytics. Compute the equation of the regression line. Draw a scatterplot based on data
Does segment m meet operating segment level revenue test : Does Segment "M" meet the operating-segment-level Revenue Test? To receive any credit, you must answer "yes" or no in the box?

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd