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QUESTION
On January 1, 2015, Laura contributed Property A with FMV of $10,000 and adjusted basis of $4,000 to a newly created partnership, LA.
On January 1, 2015, Laura contributed Property A with FMV of $10,000 and adjusted basis of $4,000 to a newly created partnership, LA. During 2015, Laura suffered losses from this investment of $1,000. Laura's share of LA's qualified nonrecourse liability is $5,000. LA made cash distributions of $9,000 to Laura during 2015. What will be Laura's outside basis and at-risk basis at the end of year 2015?
