Which of the following items increases a partner's basis in his or her partnership interest?

Question

Quizplus · Accepted Answer

All of the items listed increase a partner's basis in his or her partnership interest.

Tax-exempt income that flows through from the partnership is excluded from a partner's taxable income but still increases the partner's basis in the partnership.

Ordinary income that flows through from the partnership is included in a partner's taxable income and also increases the partner's basis in the partnership.

The basis of property contributed is the initial amount a partner has invested in the partnership and therefore increases the partner's basis in the partnership.

Which of the Following Items Increases a Partner's Basis in His