10.

John, a limited partner of Candy Apple, LP, is allocated $33,500 of ordinary business loss from the partnership. Before the loss allocation, his tax basis is $23,500 and at-risk amount is $13,500. John also has ordinary business income of $23,500 from Sweet Pea, LP as a general partner and ordinary business income of $8,500 from Red Tomato, as a limited partner. How much of the $33,500 loss from Candy Apple can John deduct currently? Multiple Choice $33,500 $13,500 $8,500 $25.000