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Alec buys a 20% limited partnership interest in OWL One Limited Liability Limited Partnership for $8,000 on January 1. He materially participates in the partnership

Alec buys a 20% limited partnership interest in OWL One Limited Liability Limited Partnership for $8,000 on January 1. He materially participates in the partnership business. The following year OWL borrows $6,000 in nonrecourse debt and has a $10,000 loss. What is Alecs outside basis after the above transactions?

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