Partner Tami a 20% partner)had the following items reported to her on a partnership Schedule K-1: Tami had a basis in her partnership interest of $14,000 at the beginning of the year.Additionally,the partnership has recourse liabilities of $100,000 outstanding at the end of the year.What is Tami's basis in her partnership interest at the end of the year?

Question

Partner Tami a 20% partner)had the following items reported to her on a partnership Schedule K-1:  Tami had a basis in her partnership interest of $14,000 at the beginning of the year.Additionally,the partnership has recourse liabilities of $100,000 outstanding at the end of the year.What is Tami's basis in her partnership interest at the end of the year?

Quizplus · Accepted Answer

The Answer of Partner Tami a 20% partner)had the following items reported to her on a partnership Schedule K-1:  Tami had a basis in her partnership interest of $14,000 at the beginning of the year.Additionally,the partnership has recourse liabilities of $100,000 outstanding at the end of the year.What is Tami's basis in her partnership interest at the end of the year?

Partner Tami a 20% Partner)had the Following Items Reported to Her