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Business, 12.03.2021 15:10, gorillalover9000
John, a limited partner of Candy Apple, LP, is allocated $28,000 of ordinary business loss from the partnership. Before the loss allocation, his tax basis is $19,000 and his at-risk amount is $9,000. John also has ordinary business income of $19,000 from Sweet Pea, LP, as a general partner and ordinary business income of $6,000 from Red Tomato as a limited partner. How much of the $28,000 loss from Candy Apple can John deduct currently
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John, a limited partner of Candy Apple, LP, is allocated $28,000 of ordinary business loss from the...
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