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 2019, the partnership paid off a $600,000 recourse loan, 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 capital loss. At the end of 2019, what is Pote's tax basis in ABC ? O A $212,000 OB. $452,000 C$420,000 OD. $332,000
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