Which of the following does not adjust a partner's basis?
A) Ordinary business income (loss).
B) Change in amount of partnership debt.
C) Tax-exempt income.
D) All of the choices adjust a partner's basis.

Question

Quizplus · Accepted Answer

A partner's initial tax basis is adjusted at least annually by the partner's share of any income or expense items, the partner's share of any change in the amount of partnership debt, or by a contribution from or a distribution to the partner.

Which of the Following Does Not Adjust a Partner's Basis