Question

For the tax year ABC partnership reported 68000 ordinary loss and 30000 increase in recourse liabilities...

For the tax year ABC partnership reported 68000 ordinary loss and 30000 increase in recourse liabilities for which the partners are liable Anne a 50% owner had an adjusted basis of 20000 at the beginning of the year. What is Anne’s allowable loss and her adjusted basis in ABC at the end of the year

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