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Business, 15.02.2020 02:59 thebrain1345
Tobias is a 50% partner in Solomon LLC, which does not invest in real estate. On January 1, Tobias's adjusted basis for his LLC interest is $218,000, and his at-risk amount is $174,400. His share of losses from Solomon for the current year is $283,400, all of which is passive. Tobias owns another investment that produced $152,600 of passive activity income during the year. (Assume that Tobias is a single taxpayer, there were no distributions or changes in liabilities during the year, and that the Solomon loss is Tobias's only loss for the year from any activity.)
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Tobias is a 50% partner in Solomon LLC, which does not invest in real estate. On January 1, Tobias's...
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