Terri owns a 50 percent interest in the TT Partnership.At the beginning of the year, her basis in her partnership interest was $75,000.The partnership reports a $40,000 loss for the year and distributes $4,000 cash to Terri.What is her basis in her partnership interest at the end of the year?
A)$111,000
B)$75,000
C)$51,000
D)$31,000

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The Answer of Terri owns a 50 percent interest in the TT Partnership.At the beginning of the year, her basis in her partnership interest was $75,000.The partnership reports a $40,000 loss for the year and distributes $4,000 cash to Terri.What is her basis in her partnership interest at the end of the year?
A)$111,000
B)$75,000
C)$51,000
D)$31,000

Terri Owns a 50 Percent Interest in the TT Partnership