Business, 21.12.2019 01:31, abiii7460

In 2019, liam invested $100,000 for a 25% interest in a partnership involved in an activity in which he is a material participant. the partnership reported losses of $340,000 in 2019 and $180,000 in 2020 with liam's share being $85,000 in 2019 and $45,000 in 2020. how much of the losses can liam deduct? a.$85,000 in 2019, $0 in 2020. b.$85,000 in 2019, $15,000 in 2020. c.$0 in 2019, $0 in 2020. d.$85,000 in 2019, $45,000 in 2020. e. none of these choices are correct.

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In 2019, liam invested $100,000 for a 25% interest in a partnership involved in an activity in which...