Jason Purchased a 20 Percent Interest in JKL Partnership for $20,000

Multiple Choice

Jason purchased a 20 percent interest in JKL Partnership for $20,000 at the beginning of the year.At year-end, the partnership reported net income of $15,000 and distributed $2,000 cash to Jason.What is Jason's year-end basis?

A) $20,000
B) $21,000
C) $23,000
D) $33,000