On part a:
o There are items that increase the basis. That leads to basis before distribution
o Then report the cash distribution, and gets to the Basis before Loss Allocations
o Determine the ordinary loss, and allocate it to the two partners
o This gets you the partners ending tax basis
On part b apply the first two limitation rules
On part c he is a limited partner, which leads to a passive activity loss. This should guide you
on how to allocate the ordinary business loss for each partner; the answer is not the same for
two partners
On part d you have to report do all of this in excel
o Page of form
o Page of form
o K for Francesa and a separate K for Amir. You need numbers in the following lines
Part II L two items
Part III, line QBI
