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In 2016, Andrew contributed equipment with an adjusted basis of $34,000 and a FMV of $32,000 to Construction Limited Partnership (CLP) in return for a

In 2016, Andrew contributed equipment with an adjusted basis of $34,000 and a FMV of $32,000 to Construction Limited Partnership (CLP) in return for a 3% limited partnership interest. Andrews share of CLP income and losses for the year were as follows:

Interest $ 1,200
Dividends 1,000
Capital gain 1,600
Ordinary loss (5,025 )

CLP had no liabilities. What are Andrews initial basis, allowed losses, and ending at-risk amount?

Initial at-risk basis- _______

Allowed Loss- _________

Closing at-risk basis- ___________

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