Determine the Year-End Adjusted Basis of Roberto's 1/2 Interest in the Halifax

Multiple Choice

Determine the year-end adjusted basis of Roberto's 1/2 interest in the Halifax Partnership. At the beginning of the year, Roberto's adjusted basis is $80,000. The net operating profit of the partnership is $90,000. Also, Halifax distributes $15,000 of cash to Roberto.

A) $65,000
B) $110,000
C) $140,000
D) $155,000
E) $185,000