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22 Rublo recently invested $21.500 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His

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Rublo recently invested $21.500 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is $16,050. In addition, Rubio's share of the limited partnership loss for the year is $23,950, his share of income from a different limited partnership is $5,225, and he has $41.500 in wage income and $10.750 in long-term capital gains. Problem 7-60 Part-a (Algo) o. How much of Rubio's $23,950 loss is allowed considering only the tax.basis loss limitations? Lollowed as per tax basis loss tritation

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