$1$

Required information

$[$The following information applies to the questions displayed below.$]$

Rubio recently invested $$21,000($tax basis$)$ in purchasing a limited partnership interest in which he will have no

management rights in the company. His at$-$risk amount is $$15,700.$ In addition, Rubio's share of the limited partnership loss

for the year is $$23,300,$ his share of income from a different limited partnership is $$5,150,$ and he has $$41,000$ in wage

income and $$10,500$ in long$-$term capital gains.

b$.$ How much of Rubio's $$23,300$ loss is allowed under the at$-$risk limitations$?$

Answer is complete but not entirely correct.