Gavin owns a 50% interest in London Partnership.His tax basis in his partnership interest at the beginning of the year was $20,000.His partnership Schedule K-1 showed the following: Calculate Gavin's tax basis in his partnership interest at the end of the year?

Question

Gavin owns a 50% interest in London Partnership.His tax basis in his partnership interest at the beginning of the year was $20,000.His partnership Schedule K-1 showed the following:   Calculate Gavin's tax basis in his partnership interest at the end of the year?

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The Answer of Gavin owns a 50% interest in London Partnership.His tax basis in his partnership interest at the beginning of the year was $20,000.His partnership Schedule K-1 showed the following:   Calculate Gavin's tax basis in his partnership interest at the end of the year?

Gavin Owns a 50% Interest in London Partnership