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For the tax year abc partnership reported 68000 ordinary loss and 3000 increase in recourses in...

For the tax year abc partnership reported 68000 ordinary loss and 3000 increase in recourses in liabilities for which the partners are liable. Anne a 50 percent owner had an adjusted basis of 20000 at the beginning of the year what is Anne allowable loss and her adjusted basis in abc at the end of the year
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Answer #1

AnjuJe Anne alowole loss - 66000 x 50 34ooo Adjustud b 29,000 + 1500 D 35000 二35,000-3Hou。 2 lo0o

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