1. On January 1, 2018, Dennis contributed $12,000 of cash to the XYZ limited partnership for a 25% limited partnership interest. XYZ partnership has $60,000 of nonrecourse debt. On April 6, 2018, XYZ limited partnership distributed $5,000 to Dennis. For the year ended December 31, 2018, XYZ partnership had a loss of ($36,000). Dennis also owned a 30% interest in the ABC limited partnership which had income of $15,000 for 2018 Calculate the amounts indicated below: Dennis's tax basis in XYZ partnership at 12/31/2018 Dennis's at-risk basis in XYZ partnership at 12/31/2018 Amount of XYZ loss Dennis can deduct on his 2018 tax return Passive loss carryforward