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What is rhonda ending basis in her partnership interest

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    Assignment ID: FG133141737

    Question – Rhonda has a basis of $10,550 in a partnership at the beginning of the year. She receives $15,400 in cash distributions, and her distributive share of income is $4,285.

    Required –

    a. Is Rhonda required to recognize any gain? If so, how much?

    b. What is Rhonda’s ending basis in her partnership interest?

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