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

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 % Interest in DE's capital profits and losses. During 2010, the partnership paid off a 5600,000 recourselon, had an ordinary loss of $200,000, received $400,000 of municipal bond Interest, paid an EPA fine of $300,000 and recognized a $20,000 long term capitowe At the end of 2019. what is Peter's tax basis in ABC? O A $420,000 OB. $333,000 OC $452.000 OD. $212.000

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