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During the year the partnership reported a 30000 loss and

Question - Ryan 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?

a. $0

b. $4,000

c. $5,000

d. $9,000

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Accounting Basics: During the year the partnership reported a 30000 loss and

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Accounting Basics: During the year the partnership reported a 30000 loss and

Reference No:- TGS02566834

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