On January 1, 2022, Benji, Diego and Amanda form Miami Gneral Partnership. benji contributees investment land he purchased 8 years ago for $10,000 ($30,000 FMV) in exchange for a 37.5% interest in th epartnership with a FMV of $30,000. Diego contributes furniture purchased several years ago in exchange for a 31.25% interest in the partnership with a FMV of $25,000. The furniture has a $20,000 adjusted basis ($50,000 Cost less $30,000 Dep) and a $55,000 FMV. The partnership also agreed to assume Diego's $30,000 liability (acquistion business debt) on the furniture. Amanda transfers equipment with an adjusted basis of $30,00 and FMV $25,000 in exchange for a 31.25% interest in the partnership. During 2022, the partnership incurs a net operating loss of $50,000. How much loss is deductible by Benji in 2022?

On January 1, 2022, Benji, Diego and Amanda form Miami general partnership. benji Contributes land he purchased for $10,000 ($30,000 FMV) in exchange for a 37.5% interest in the partnership. Diego contributes special designer furniture prchased several years ago in the exchange for a 31.25% interest in the partnership with a FMV of $25,000. The furnitutre has a $20,000 adjusted basis and a $55,000 FMV because it was in high demand. the partnership agreed to assume Diego's $30,000 liability (acquistion business debt) on the furniture. Amanda transferred equipment with an adjusted bassi of $30,000 and FMV of $25,000 in exchange for 31.25% interest in the partnership. During 2022, the partnership incurred a net operating loss of $50,000. During 2023, the partnership earned a profit of $80,000 and made a proportionate cash distributionof $20,000 total to the partners ($7500 cash to Benji, $6250 to Diego, 6250 to Amanda) What is Diego's partnership basis at end of 2023?