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Author Question: Joey and Bob each have 50% interest in a Partnership. Both Joey and the partnership file returns on ... (Read 47 times)

nmorano1

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on: Sep 13, 2020
Joey and Bob each have 50% interest in a Partnership. Both Joey and the partnership file returns on a calendar year basis. Partnership Q had a $12,000 loss in 2015. Joey's adjusted basis in his partnership interest on January 1, 2015 was $5,000. In 2016, the partnership had a profit of $10,000. Assuming there were no other adjustments to Joey's basis in the partnership, what amount of partnership income (loss) should Joey show on his 2015 and 2016 individual income tax returns?

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Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by nmorano1 on Sep 13, 2020

kescobar@64

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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nmorano1

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)

ASDFGJLO

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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