Question: Aiden holds a 3 5 % capital interest in the Oro Partnership and is entitled to a yearly guaranteed payment of $ 4 0 ,

Aiden holds a 35% capital interest in the Oro Partnership and is entitled to a yearly guaranteed payment of $40,000. As of January 1,2023, Aiden's basis in the partnership interest is $87,000. During tax year 2023, Oro recorded the following transactions.
Operating profit (after consideration of guaranteed payment) $410,000
Interest income on City of Seattle bonds 20,000
Short-term capital loss 5,000
Long-term capital gain 7,000
Funds borrowed from bank to provide working capital 30,000
During 2023, Aiden withdrew cash of $70,000 from Oro to help cover his living expenses.
What is Aiden's basis in his partnership interest as of January 1,2024?

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