Partnership to provide window cleaning services

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Reference no: EM133608742

Question: On January 1, 2018, Ann and Bob formed a partnership to provide window cleaning services. The partners each contributed $4836 and agreed that all income and losses would be shared equally. For the fiscal period January 1 to December 31, 2018, the following information is available. The partnership earned income for tax purposes of $184409. Included in this amount is a taxable capital gain of $39306. The partnership made charitable donations of $12216. Ann took draws totaling $70237. Ann contributed additional capital of $14527 to the partnership. The adjusted cost base of Ann's partnership interest at January 1, 2019, is:"

Reference no: EM133608742

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