Sandy and Larry Each Have a 50% Interest in SL $$\begin{array} { | l | l | } \hline 2018 & 2019 \\\hline ( \$ 12,000 ) & \$ 7,000 \\\hline\end{array}$$

Multiple Choice

Sandy and Larry each have a 50% interest in SL Partnership.The partnership and the individuals file on a calendar-year basis.In 2018,SL Partnership had a $30,000 ordinary loss.Sandy's adjusted basis in her partnership interest on January 1,2018,was $12,000.In 2019,SL Partnership had ordinary income of $20,000.Assuming there were no other adjustments to Sandy's basis in the partnership,what amount of partnership income (loss) would Sandy show on her 2018 and 2019 individual income tax returns?

A) $$\begin{array} { | l | l | } \hline 2018 & 2019 \\\hline ( \$ 12,000 ) & \$ 7,000 \\\hline\end{array}$$
B) $$\begin{array} { | l | l | } \hline 2018 & 2019 \\\hline ( \$ 12,000 ) & \$ 10,000 \\\hline\end{array}$$
C) $$\begin{array} { | l | l | } \hline 2018 & 2019 \\\hline ( \$ 15,000 ) & \$ 7,000 \\\hline\end{array}$$
D) $$\begin{array} { | l | l | } \hline 2018 & 2019 \\\hline ( \$ 15,000 ) & \$ 10,000 \\\hline\end{array}$$