1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
LenKa [72]
3 years ago
15

Jerry, a partner with 30 percent capital and profits interest, received his Schedule K-1 from Plush Pillows, LP. At the beginnin

g of the year, Jerry's tax basis in his partnership interest was $44,000. His current-year Schedule K-1 reported an ordinary loss of $9,000, long-term capital gain of $4,600, qualified dividends of $3,600, $2,100 of non-deductible expenses, a $26,000 cash contribution, and a reduction of $5,600 in his share of partnership debt. What is Jerry's adjusted basis in his partnership interest (outside basis) at the end of the year
Business
1 answer:
Ierofanga [76]3 years ago
3 0

Answer: $61,500

Explanation:

Jerry's adjusted basis in his partnership interest at the end of the year is determined by adding his cash contributions, long-term capital gain, and qualified dividends to the original tax basis.

There will also be deductions of the non-deductible expenses, ordinary loss and his share of the reduction in partnership debt.

Jerry's adjusted basis at the end of the year = ( 44,000 + 26,000 + 3,600 4,600) - ( 2,100 + 9,000 + 5,600)

= 78,200 - 16,700

= $61,500

You might be interested in
In 2019, Felicity's business use of her vehicle fell to less than 50%. Regular MACRS depreciation had been used in prior years.
Flauer [41]

Answer:

(d) Straight-line method (SL), the same convention as used in the first year of depreciation, ADS recovery period

Explanation:

The straight line method is the best to use, the convention to be used is the same as what was used in the first year of depreciation and the recovery period in 2019 is the ADS recovery period.

To decrease annual deduction, it is standardized that ADL is used with straight line method with 31 plus years for a recovery period that is longer.

5 0
2 years ago
Marginal utility is the​ ________ satisfaction gained by consuming​ ________ of a good.
Tamiku [17]

Marginal utility is the extra satisfaction gained from consuming one more unit of a good.

3 0
3 years ago
15. Chef A insists that roux is the traditional thickener for bisque. Chef B insists that it's rice. Which chef is correct?
inna [77]

Answer:

Hi,

The correct answer option is B. Both chefs are correct

Explanation:

Roux is a mixture of fat and flour for making sauces.The purpose of roux is to form a base for the sauce and soup by thickening the sauce.Butter is commonly used for making roux.Veloute,a  common cuisine is thickened  with roux. Bisque is a soup made of pureed shellfish.Rice is used to thicken Bisque.This soup is smooth, creamy and seasoned.

Hope this helps!

3 0
3 years ago
Read 2 more answers
The marketing manager at Home Depot works with Hunt Advertising to coordinate all promotional messages for a product or a servic
nlexa [21]

Answer:

The answer is "Choice d"

Explanation:

The Advertising Mix is the integration of publicity, personal selling, advertising, and marketing. To maintain a sustainable mix of those promotional resources, advertisers need to look only at the following questions. It really is the company's promotional software. With the assistance of the marketing manager and a 3rd parties advertiser, they sell the offering.

7 0
3 years ago
The point where total expenses equals to total income? ​
Anna35 [415]

Answer:

yfku

Explanation:

5 0
2 years ago
Other questions:
  • According to google shopping policies, what would cause the disapproval of individual items or an entire merchant center account
    14·1 answer
  • _____ is done by centralizing or specializing a firm's operations to sustain or improve productivity.
    6·1 answer
  • Suppose that mr. green jeans sells $5,000 of wheat to big ben bakery. big ben uses the wheat to make flour and then hamburger bu
    7·1 answer
  • Spring is here, and Ginny and her uncle would like to go fishing for the weekend in New Hampshire. Ginny could either go to the
    5·1 answer
  • Variable Costing
    8·1 answer
  • Suppose that in​ 2017, a typical U.S. student attending a​ state-supported college bought 10 textbooks at a price of ​$110 per b
    12·1 answer
  • Which of the following is NOT an example of advertising media?
    8·1 answer
  • Please help me Im stuck on this
    14·1 answer
  • I NEED HELP ASAP!!!!
    13·1 answer
  • g The following information relates to XYZ Company: January 1, 2023: Liabilities ............... $137,000 Retained earnings ....
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!