Question 7 of 15. For the tax year, Ashes to Dust, a partnership, reported a $75,000 ordinary loss and a $29,000 increase in recourse liabilities for which the partners are liable. Dustin, a 50% partner, had an adjusted basis of $16,000 at the beginning of the year. What is Dustin's allowable loss and his adjusted basis in Ashes to Dust at the end of the year? Allowable loss: $8,000. Adjusted basis: $7,000. Allowable loss: $16,000. Adjusted basis: $0. Allowable loss: $30,500. Adjusted basis: $0. ed s C Question 7 of 15. For the tax year, Ashes to Dust, a partnership, reported a $75,000 ordinary loss and a $29,000 increase in recourse liabilities for which the partners are liable. Dustin, a 50% partner, had an adjusted basis of $16,000 at the beginning of the year. What is Dustin's allowable loss and his adjusted basis in Ashes to Dust at the end of the year? Allowable loss: $8,000. Adjusted basis: $7,000. Allowable loss: $16,000. Adjusted basis: $0. Allowable loss: $30,500. Adjusted basis: $0.