At the beginning of the tax year, Barnaby's basis in the BBB Partnership was $151,800, including his $15,180 share of partnership debt. At the end of the tax year, his share of debt was $22,770. His share of the partnership's income for the year was $60,720, and he received cash distributions totaling $37,950. In addition, his share of the partnership's nontaxable income was $3,036. How much is Barnaby's basis at the end of the tax year

$185,196

Explanation:

To calculate Barnaby's basis at the end of the tax year, we do the following.

First we find out the Initial basis after excluding debt in this manner,

= Initial basis including debt - debt

= $151,800 - $15,180

= $136,620

Now that we have done that we then add the following,

= Initial basis after excluding debt + share of the partnership's income + share of debt + share of the partnership's nontaxable income

= $136,620 + $60,720 + $22,770 + $3,036

= $223,146

From this figure we will then subtract cash distributions received to find out his tax basis for the year.

= $223,146 - $37,950

= $185,196

Barnaby's basis at the end of the tax year is $185,196

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hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi