Sections 704(d) and 465

A cattle ranch, operated as a partnership, has the following year end information for a four-year period:

	Year 1	Year 2	Year 3	Year 4
Net income (loss)	$(90,000)	$(40,000)	$(20,000)	$(40,000)
Cash to partners	0	45,000	30,000	20,000
Recourse debt	45,000	42,000	39,000	36,000
Nonrecourse debt	80,000	70,000	60,000	50,000

G acquired a 10% general interest at the beginning of year 1 for $20,000. He has received his 10% share of the cash distributed during the four years. Calculate his 704(d) basis and his 465 at-risk amount at the beginning of years 2 through 5.