vProblem 10-4 Partnership Formation (LO 10.2) Elaine's original basis in the Hornbeam Partnership was $40,000. Her share of the
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}{y}[/tex]Answer:
For part A) The <u>entire 2019 is deductible.</u>
For part B) $9,075
Explanation:
FOR PARTE A) we know the equation is:
where y is 12 (which means the entire year) and the number of months will be also 12. So the equation will be:
and the answer will be 24,200 which means the entire year is deductible.
FOR B) the equation to be used will be replaced by 24 (two years) and the number of month will be 9.
so the equation is:
the answer wil be $9,075