What is warren basis in the partnership, Accounting Basics

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What is warren basis in the partnership

Question: In 2022 Warren purchased a 20% interest in a partnership for $100,000. In 2023, the partnership generated $100,000 of taxable income, and Warren withdrew $15,000. What is Warren's basis in the partnership at the end of 2023? Group of answer choices $100,000 $120,000 $300,000 $85,000 $105,000

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Accounting Basics: What is warren basis in the partnership

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