Multiple Choice
Barb and Chuck each have a 50% ownership in Wren Partnership.Each partner has a partnership interest basis of $175,000.Wren's taxable income for the current year is $100,000,and it distributes $75,000 to each partner.Barb's basis in the partnership interest at the end of the year is:
A) $0.
B) $100,000.
C) $150,000.
D) $175,000.
E) None of the above.
Correct Answer:

Verified
Correct Answer:
Verified
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