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1 2 . Stewart is a 3 0 percent general partner in STP Partnership. His basis in his partnership interest at the beginning of the

12. Stewart is a 30 percent general partner in STP Partnership. His basis in his partnership interest at the beginning of the year was $40,000. During the year, the partnership reported a $30,000 loss and paid off a $120,000 recourse debt. What is Stewarts year-end basis in his partnership interest?

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