Question: Enter problem statement, appropriate input type, and other instructions here. On January 1, 2019.pete'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.pete's tax basis in the ABC General partnership is $500,000 Pete has a 40 % nterest in DE's capital, profits and losses. During 2010, the partnership paid off a 5000,000 recourse loan, had an ordinary loss of $200,000, received $400,000 of municipal bond terest, paid an EPA fine of $300,000 and recognized a $20,000 long term capital oss. At the end of 2019, what is Pote's tax basis in ABC ? O A 1420,000 3. $332.000 C. $452,000 OD. $212.000
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