4. Partnership Levity's profits and losses are shared equally among the four partners. The adjusted basis of Partner E's interest in the partnership on December 31, 2018 was $25,000. On January 2, 2019. Partner E withdrew $10,000 cash. The partnership reported $200,000 as ordinary income on its 2019 partnership retum. In addition, $5,000 for charitable contributions was shown on E's K-1 of form 1065. 1. Compute E's ending basis on December 31, 2019 2. How will E's items be reflected on his 2019 1040 tax return? 3. Now assume that in 2020, the partnership suffers a $300,000 loss. How much of this loss can E deduct