Business, 18.05.2021 19:30 telonfrippp5i9i5

Hilary had an outside basis in LTL General Partnership of $18,000 at the beginning of the year. LTL reported the following items on Hilary's K-1 for the year: ordinary business income of $13,000, a $18,000 reduction in Hilary's share of partnership debt, a cash distribution of $28,000, and tax-exempt income of $11,000. What is Hilary's adjusted basis at the end of the year

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Hilary had an outside basis in LTL General Partnership of $18,000 at the beginning of the year. LTL...

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