Ruby's Tax Basis in Her Partnership Interest at the Beginning $\mathbf { \quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\$ 2 , 0 0 0 }$

Essay

Ruby's tax basis in her partnership interest at the beginning of the partnership's tax year was $13,000. The following items were included in her Schedule K-1 from the partnership for the year: Cash Distribution $\mathbf { \quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\$ 2 , 0 0 0 }$
Ordinary Business Loss $\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad \mathbf {(\$ 1 4 , 0 0 0 ) }$
Short-Term Capital Gains $\mathbf { \quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\$ 2 , 0 0 0 }$
Reduction in Ruby's Share of Partnership Debt $\mathbf {\quad\quad\quad\quad\quad\quad\quad\quad \$ 4 , 0 0 0 }$