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4. In year 1, Emily invests $120,000 in a limited partnership that is not a passive activity. During year 1, her share of the partnership
4. In year 1, Emily invests $120,000 in a limited partnership that is not a passive activity. During year 1, her share of the partnership loss is $45,000. In year 2, her share of the partnership loss is $95,000. How much can Emily deduct in year 1 and year 2? (Explain year 2)
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, George Foster, Srikant M. Datar, Howard D. Teall, Foster Horngren, Data Horngren
3rd Canadian Edition
0130355801, 978-0130355805
