30 Part 3 of 3 Required information The following information applies to the questions displayed below) Alfonso began the year with a tax basis in his partnership interest of $48,000. His share of partnership liabilities at the beginning and end of the year consists of $4.000 of recourse liabilities and $4,000 of nonrecourse liabilities. During the year he was allocated $62,000 of partnership ordinary business loss. Alfonso does not materially participate in this partnership, and he has $3,000 of passive income from other sources 036 points C. How much of Alfonso's loss is limited by the passive activity loss rules? Answer is complete but not entirely correct. Loss limded by passive activity loss des s 36,000