Law, 30.08.2021 04:10, 0gNanaa

For the tax year, OSH partnership reported a $74,000 ordinary loss and a $28,000 increase in recourse liabilities for which thepartners are liable. Ashley, a 50% partner, had an adjusted basis of $15,000 at the beginning of the year. What is Ashley'sallowable loss and her adjusted basis in OSH at the end of the year? Allowable loss: $7,500. Adjusted basis: $8,000.
Allowable loss: $15,000. Adjusted basis: $0.
Allowable loss: $29,000. Adjusted basis: $0.
Allowable loss: $37,000. Adjusted basis: $8,000.

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For the tax year, OSH partnership reported a $74,000 ordinary loss and a $28,000 increase in recours...