Anumber of years ago, kay acquired an interest in a partnership in which she is not a material participant. kay's basis in her partnership interest at the beginning of 2014 is $40,000. kay's share of the partnership loss is $35,000 in 2014, while her share of the partnership income is $15,000 in 2015. assuming she owns no other passive activities. if an amount is zero, enter "0".a. in 2014, kay can deduct $ 0 of the passive losses. b. in 2015, kay can deduct $ 15000 of the passive losses. c. after deducting the passive loss, the remaining $ of the 2014 passive loss is carried forward to 2016.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan