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Business, 01.04.2021 17:40 atiyawhite4488

John, a limited partner of Candy Apple, LP, is allocated $22,000 of ordinary business loss from the partnership. Before the loss allocation, his tax basis is $17,000 and his at-risk amount is $7,000. John also has ordinary business income of $17,000 from Sweet Pea, LP, as a general partner and ordinary business income of $6,400 from Red Tomato as a limited partner. How much of the $22,000 loss from Candy Apple can John deduct currently

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