Question: On October 1 1 , Irwin contributed $ 7 , 5 0 0 for a 2 0 % interest in the general partnership, Patti's Pastries.

On October 11, Irwin contributed $7,500 for a 20% interest in the general partnership, Patti's Pastries. The partnership took out a loan for $19,000 on November 1. Irwin's distributive share of income for the year was $4,200. What is his ending basis in the partnership for this year?

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