LO.9 Aiden has a 30% capital interest in the Oro Partnership and is entitled to a yearly guaranteed payment of $40,000. As of January 1, 2012, Aiden’s basis in the partnership interest is $80,000. During tax year 2012, Oro had the following transactions:

Operating profit (after consideration of guaranteed payment) $400,000 Interest income on City of Seattle bonds 20,000 Short-term capital loss 5,000 Long-term capital gain 7,000 Funds borrowed from bank to provide working capital 30,000 During 2012, Aiden withdrew cash of $50,000 from Oro to help cover his living expenses. What is Aiden’s basis in his partnership interest as of January 1, 2013?