Peggy has a 1/3 ownership in Kash partnership. She paid $50,000 for the 1/3 interest. In the first year of operation, the partnership had $30,000 of non-separately stated income and borrowed $6,000. What is Peggy's basis?© BrainMass Inc. brainmass.com June 4, 2020, 2:00 am ad1c9bdddf
The solution calculates Peggy's basis in Kash Partnership after first year of operation.