In the Current Year,the CAR Partnership Received Revenues of $200,000

In the current year,the CAR Partnership received revenues of $200,000 and paid the following amounts: $120,000 in rent,utilities,and salaries;a $20,000 guaranteed payment to partner Ronald;$12,000 to partner Albert for consulting services;and a $15,000 distribution to 25% partner Celia.In addition,the partnership realized a $10,000 net long-term capital gain.Celia's basis in her partnership interest was $50,000 at the beginning of the year,and included her $20,000 share of partnership liabilities.At the end of the year,her share of partnership liabilities was $15,000.