Calculate elaine''s current basis in her partnership

Calculate elaine''s current basis in her partnership interest

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Reference no: EM132024375

Elaine's original basis in the Hornbeam Partnership was $57,300. Her share of the taxable income from the partnership since she purchased the interest has been $229,200, and Elaine has received $171,900 in cash distributions from the partnership. Elaine did not recognize any gains as a result of the distributions.

Calculate Elaine's current basis in her partnership interest.

Reference no: EM132024375

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