Business, 30.11.2019 06:31, hernandezbrandon059
Anumber of years ago, lee acquired a 20% interest in the bluesky partnership for $60,000. the partnership was profitable through 2018, and lee's amount at risk in the partnership interest was $120,000 at the beginning of 2019. bluesky incurred a loss of $400,000 in 2019 and reported income of $200,000 in 2020. assuming that lee is not a material participant, how much of his loss from bluesky partnership is deductible in 2019 and 2020? consider the at-risk and passive activity loss rules, and assume that lee owns no other passive investments.
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Anumber of years ago, lee acquired a 20% interest in the bluesky partnership for $60,000. the partne...
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