Business, 08.11.2019 00:31 nickname0097

Rubio recently invested $20,000 (tax basis) in purchasing a limited partnership interest. his at-risk amount is $15,000. in addition, rubio’s share of the limited partnership loss for the year is $22,000, his share of income from a different limited partnership was $5,000, and he had $40,000 in wage income and $10,000 in long-term capital gains.

. how much of rubio’s $22,000 loss is allowed considering only the tax basis loss limitations?

how much of the loss from part (a) is allowed under the at-risk limitations?

ow much of rubio’s $22,000 loss from the limited partnership can he deduct in the current year considering all limitations?

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Rubio recently invested $20,000 (tax basis) in purchasing a limited partnership interest. his at-ris...

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