2.08.3 Contributions to a Partnership (3)

Question 問題、
Jeffrey, the sole proprietor of a hardware business, hired Eastwood on January 1, Year 1, for an agreed salary and a promise to give him a 25% ownership interest if he were still employed at the end of 3 years, and an additional 25% interest if he continued in the business for a second 3-year period. On January 1, Year 4, a partnership was was formed and Eastwood received a 25% interest in the capital and profits of the business. On that date, the net worth of the partnership was $60,000. The partnership has no liabilities. What is Eastwood's tax basis of his partnership interest at January 1, Year 4, and what amount should be added to his gross income for Year 4?

A. Basis $0; Gross Income $0

B. Basis $15,000; Gross Income $15,000

C. Basis $30,000; Gross Income $15,000

D. Basis $30,000; Gross Income $30,000

The correct answer is 正解は、[B. Basis $15,000, Gross Income $15,000]
= $60,000 x 25%