Question: Enter problem statement appropriate input type, and other instructions here. On January 1, 2019.peta's tax basis in the ABC General partnership is $500,000. Pete has

Enter problem statement appropriate input type, and other instructions here. On January 1, 2019.peta's tax basis in the ABC General partnership is $500,000. Pete has a 40 % interest in DE's capital profits and losses During 2019. the partnership paid off a S600,000 recourse loan, had an ordinary loss of $200,000, rolved $400,000 of municipal bond interest paid an EPA fine of $300,000 and recognized a $20,000 long term capital in Al the end of 2019. what is Pete's tax basis in ABC 7 OA $332,000 B. $212,000 OC. $420,000 00. 5452,000

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