6. B invested $20,000 cash for a 55% interest in ABC Partnership. B materially participates in the partnership's business and the partnership agreement states he is liable for all of the partnership's debts. The only partnership debt at the year-end was a $17,000 loan from Cook bank. Partner B and the other general partner had a separate agreement that B's liability would not exceed $12,000. The partnership reported a $60,000 ordinary loss for the current year. Assuming there were no other adjustments to B's basis, what is the amount of B's deductible loss for the current year? $37,000 $33,000 $32,000 $20,000

6. B invested $20,000 cash for a 55% interest in ABC Partnership. B materially participates in the partnership's business and the partnership agreement states he is liable for all of the partnership's debts. The only partnership debt at the year-end was a $17,000 loan from Cook bank. Partner B and the other general partner had a separate agreement that B's liability would not exceed $12,000. The partnership reported a $60,000 ordinary loss for the current year. Assuming there were no other adjustments to B's basis, what is the amount of B's deductible loss for the current year? - $37,000 - $33,000 - $32,000 - $20,000