In a large pot or Dutch oven, brown the ground beef over medium heat. Use a wooden spoon to break it apart until it's fully cooked. Drain any excess fat.

Add the chopped onions, garlic, and red bell pepper to the pot. Cook for about 5 minutes, or until the vegetables are tender.

Pour in the canned tomatoes and beef broth. Stir well to combine.

Bring the mixture to a boil, then add the elbow macaroni. Lower the heat and simmer for about 10-12 minutes, or until the pasta is al dente, stirring occasionally.

Sprinkle in the Italian seasoning, and season with salt and pepper to taste. Mix everything together until well combined.

Ladle the goulash into bowls, top with shredded cheddar cheese, and garnish with fresh basil, if desired.