Business, 06.11.2019 19:31 iicekingmann

Larry recently invested $24,400 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. his at-risk amount is also $24,400. in addition, larry’s share of the limited partnership loss for the year is $3,750, his share of income from a different limited partnership was $2,600, and he has $3,700 of dividend income from the stock he owns. how much of larry's $3,750 loss from the limited partnership can he deduct in the current year?

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Larry recently invested $24,400 (tax basis) in purchasing a limited partnership interest in which he...