Business, 05.11.2019 01:31, jasmineharris121
Larry recently invested $20,000 (tax basis) in purchasing a limited partnership interest. his at-risk amount is also $20,000. in addition, larry’s share of the limited partnership loss for the year is $2,000, his share of income from a different limited partnership is $1,000, and he has $3,000 of dividend income from the stock he owns. how much of larry’s $2,000 loss from the limited partnership can he deduct in the current year?
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Larry recently invested $20,000 (tax basis) in purchasing a limited partnership interest. his at-ris...
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