11-51 Jonathan, a physician, earns $200,000 from his practice. He also receives $18,000 in dividends and interest from various portfolio investments. During the year, he pays $45,000 to acquire a 20% interest in a partner- ship that produces a $300,000 loss. Compute Jonathans AGI, assuming that:

a. He does not participate in the operations of the partnership

Beginning at Risk Balance
Investment
Less Loss
Ending at risk
Deduction allowed
Gross Income
Deduction allowed
Dividends & Interest

Taxable Income

b. He is a material participant in the operations of the partnership.

Beginning at Risk Balance
Investment
Less Loss
Ending at risk
Deduction allowed
Gross Income
Deduction allowed
Dividends & Interest
Taxable Income