What is jason year-end basis


Jason purchased a 20% interest in JKL Partnership for $20,000 at the beginning of the year. At year-end, the partnership reported net income of $15,000 and distributed $2,000 cash to Jason. What is Jason's year-end basis?

a) $20,000

b) $21,000

c) $23,000

d) $33,000

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