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What are matthew initial basis and allowed losses

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Question - In 2014, Matthew contributes equipment with an adjusted basis of $40,000 and a 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 Dividends Capital gains Ordinary loss $ 1,000 600 1,800 (8,650) CLP had no liabilities. What are Matthew's initial basis, allowed losses, and ending at-risk amount?

Reference no: EM132204943

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