A client invests $100,000 in a tax shelter as a limited partner, giving him a 10% interest in the program. However, the general partners cannot meet the program's expenses. A mortgage balance of $3 million remains, and the property of the program is liquidated for $1 million. How much does the investor get back from his original investment

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Explanation:

From the question, we are informed that a client invests $100,000 in a tax shelter as a limited partner, giving him a 10% interest in the program but that, the general partners cannot meet the program's expenses.

We are further told that a mortgage balance of $3 million remains, and the property of the program is liquidated for $1 million. The investor get back nothing from his original investment

This is because a limited partner will not get return of his investment. The creditors of the partnership have to be paid first in a failed program.

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