Calculate elaine''s current basis in her partnership interest


Elaine's original basis in the Hornbeam Partnership was $25,000. Her share of the taxable income from the partnership since she purchased the interest has been $100,000, and Elaine has received $75,000 in cash distributions from the partnership. Elaine did not recognize any gains as a result of the distributions. Calculate Elaine's current basis in her partnership interest.

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Accounting Basics: Calculate elaine''s current basis in her partnership interest
Reference No:- TGS039016

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