Partner Spence had the following items reported on a partnership Schedule K-1: Spence had a basis in his partnership interest of $23,000 at the beginning of the year.What is Spence's basis in his partnership interest at the end of the year?

Question

Partner Spence had the following items reported on a partnership Schedule K-1:  Spence had a basis in his partnership interest of $23,000 at the beginning of the year.What is Spence's basis in his partnership interest at the end of the year?

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The Answer of Partner Spence had the following items reported on a partnership Schedule K-1:  Spence had a basis in his partnership interest of $23,000 at the beginning of the year.What is Spence's basis in his partnership interest at the end of the year?

Partner Spence Had the Following Items Reported on a Partnership