The Walden Partnership has two 20 percent general partners and six 10 percent limited partners. During the current year, the partnership paid off $50,000 of notes payable, purchased machinery for $100,000 on a nonrecourse note, borrowed $20,000 for working capital, and had $80,000 income from operations. If one of the limited partners had a $10,000 basis at the beginning of the year, what is his year-end basis?

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The Answer of The Walden Partnership has two 20 percent general partners and six 10 percent limited partners. During the current year, the partnership paid off $50,000 of notes payable, purchased machinery for $100,000 on a nonrecourse note, borrowed $20,000 for working capital, and had $80,000 income from operations. If one of the limited partners had a $10,000 basis at the beginning of the year, what is his year-end basis?

The Walden Partnership Has Two 20 Percent General Partners and Six