Jerry, a partner with 30 percent capital and profits interest, received his Schedule K-1 from Plush Pillows, LP. At the beginning of the year, Jerry's tax basis in his partnership interest was $41,000. His current-year Schedule K-1 reported an ordinary loss of $6,000, long-term capital gain of $4,900, qualified dividends of $3,900, $2,400 of non-deductible expenses, a $29,000 cash contribution, and a reduction of $5,900 in his share of partnership debt. What is Jerry's adjusted basis in his partnership interest at the end of the year

rural residential development company and suburban real estate corporation form a joint stock company. the longest duration a joint stock company can be formed for is

Match the given situations to the type of risks that a business may face while taking credit. 1. beta ltd. had taken a loan from a bank for a period of 15 years, but its sales are gradually showing a decline. 2. alpha ltd. has taken a loan for increasing its production and sales, but it has not conducted any research before making this decision. 3. delphi ltd. has an overseas client. the economy of the client’s country is going through severe recession. 4. delphi ltd. has taken a short-term loan from the bank, but its supply chain logistics are not in place. a. foreign exchange risk b. operational risk c. term of loan risk d. revenue projections risk

What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.