Problem $1$

In $2021,$ Matthew contributed equipment with an adjusted basis of $$40,000$ and an FMV of $$36,000$ to Construction Limited Partnership $($CLP$)$ in return for a $3\%$ limited partnership interest. Matthew$$s share of CLP income and losses for the year were as follows:

Interest $$1,000$

Dividends $600$

Capital gains $1,800$

Ordinary loss $(8,650)$

CLP had no liabilities.

What is Matthew$$s initial basis, allowed losses, and ending at$-$risk amount?