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Bill invests $50,000 in an oil partnership. He has taxable income (loss) and investments (withdrawals) as follow: Year 1: Income $10,000, withdrawal ($5,000) Year 2:
Bill invests $50,000 in an oil partnership. He has taxable income (loss) and investments (withdrawals) as follow: Year 1: Income $10,000, withdrawal ($5,000) Year 2: Loss ($3,000) investment $4,000 What is Bill's at-risk amount at the end of year 2?
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At the end of year 1 Bills atrisk amount would be 50000 i...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
