Jenna began the year with a tax basis of $22,000 in her partnership interest. Her share of partnership liabilities consists of $3,000 of recourse liabilities and $12,000 of nonrecourse liabilities at the beginning of the year and $3,000 of recourse liabilities and $14,000 of nonrecourse liabilities at the end of the year. During the year, she was allocated $36,000 of partnership ordinary business loss. Jenna does not materially participate in this partnership, and she has $5,000 of passive income from other sources. b. How much of Jenna’s loss is limited by her at-risk amount? asap

I need some help with F, G please

At the beginning of the tax year, Barnaby's basis in the BBB Partnership was $136,400, including his $13,640 share of partnership debt. At the end of the tax year, his share of debt was $20,460. His share of the partnership's income for the year was $54,560, and he received cash distributions totaling $34,100. In addition, his share of the partnership's nontaxable income was $2,728. How much is Barnaby's basis at the end of the tax year? $_________

Jenna began the year with a tax basis of $22,000 in her partnership interest. Her share of partnership liabilities consists of $3,000 of recourse liabilities and $12,000 of nonrecourse liabilities at the beginning of the year and $3,000 of recourse liabilities and $14,000 of nonrecourse liabilities at the end of the year. During the year, she was allocated $36,000 of partnership ordinary business loss. Jenna does not materially participate in this partnership, and she has $5,000 of passive income from other sources. b. How much of Jenna’s loss is limited by her at-risk amount?

Lewis Wardell and Lewis Lomas own Lewis’ Antiques. Their partnership agreement provides for annual salary allowances of $200,000 for Wardell and $180,000 for Lomas, and interest of 10 percent on each partner’s invested capital at the beginning of the year. The remainder of the net income or loss is to be distributed 50 percent to Wardell and 50 percent to Lomas. The partners withdraw their salary allowances monthly. On January 1, 20X1, the capital account balances were Wardell, $600,000, and Lomas, $560,000. On December 15, 20X1, Lomas made a permanent withdrawal of $55,000. The net income for 20X1 was $640,000. Required: Prepare the general journal entry on December 15, 20X1, to record the permanent withdrawal by Lomas. Prepare the general journal entries on December 31, 20X1, to: Record the salary allowances for the year. Record the interest allowances for the year. Record the division of the balance of net income. Close the drawing accounts into the…

Kent contributed $50,000 in exchange for a 40% interest in a partnership at the beginning of the year. The partnership has no liabilities in place at the time of Kent's contribution. At the end of the year, the partnership correctly allocates $30,000 ordinary loss and a $50,000 long term capital loss to Kent. In addition, during the year, the partnership borrowed $100,000. $40,000 of this liability is allocable to Kent. At the end of the year, Kent's outside basis equals ____ and his capital account equals _______.

Lilac Designs is a partnership with a tax year that ends November 30, 2018. During that year, William, a partner, received $4,000 per month as a guaranteed payment and his share of partnership income after guaranteed payments was $20,000. For December of 2018, William received a guaranteed payment of $10,000. Calculate the amount of income from the partnership that William should report for his tax year ended December 31, 2018.

Artemis is a 30% partner in the CAR Partnership. At the beginning of the tax year, Artemis' basis in the partnership interest was $60,000, including a share of partnership liabilities. During the current year, CAR reported net ordinary income of $40,000. In addition, CAR distributed $5,000 to each of the partners ($15,000 total). At the end of the year, Artemis' share of partnership liabilities increased by $20,000. Artemis' basis in the partnership interest at the end of the year is:  a. $87,000. b. $75,000. c. $82,000. d. $120,000. e. $60,000.

I need some help with D, E please