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 % 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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