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Barb and Chuck Each Have a 50% Ownership in Wren

Question 35

Multiple Choice

Barb and Chuck each have a 50% ownership in Wren Partnership.Each partner has a partnership interest basis of $100,000.Wren's taxable income for the current year is $80,000,and it distributes $50,000 to each partner.Barb's basis in the partnership interest at the end of the year is:


A) $50,000.
B) $90,000.
C) $100,000.
D) $140,000.
E) None of the above.

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