Problem:
Elaine's original basis in the Hornbeam Partnership was $25,000. Her share of the taxable income from the partnership since she purhased the interest has been $100,000, and Elain has received $75,000 in cash distributions from the partnership. Elain did ot recognize any gains as a result of the distribution.
Required:
Question: Calculate Elaine's current basis in her partnership interest?
Note: Please show how you came up with the solution.