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Calculate wayne basis at the end of the year

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Question - Wayne has a beginning basis in a partnership of $46,000. His share of income and expense from the partnership consists of the following amounts: Ordinary income: $86,000 Guaranteed payment: $24,000 Long-term capital gain: $31,000 §1231 gain: $8,600 Charitable contributions: $4,000 §179 expense: $36,000 Cash distribution: $12,000. Calculate Wayne's basis at the end of the year.

Reference no: EM132204944

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