Anumber of years ago, lee acquired a 20% interest in the bluesky partnership for $60,000. the partnership was profitable through 2014, and lee's amount at risk in the partnership interest was $120,000 at the beginning of 2015. bluesky incurred a loss of $400,000 in 2015 and reported income of $200,000 in 2016. assuming that lee is not a material participant, how much of his loss from bluesky partnership is deductible in 2015 and 2016? consider the at-risk and passive loss rules, and assume lee owns no other passive investments.

if an amount is zero, enter "0".

lee's share of bluesky's loss in 2015 is $ . of this loss, $ can be deducted under the at-risk rules, and $ can be deducted under the passive loss rules. in 2016, he may deduct $ of his suspended loss against the passive income. this leaves a $ suspended loss at the end of 2016.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

Ithink its 3! hope it : -)

The answer is that the answer is and ik it is because the answer is false.