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complete pls QUESTION 9 Rubio recently invested $20,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $15,000. In addition, Rubio's share
complete pls
QUESTION 9 Rubio recently invested $20,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $15,000. In addition, Rubio's share of the limited partnership loss for the year is $22.000, his share of income from a different limited partnership was $4,000, and he had $40,000 in wage income and $10,000 in long-term capital gains. How much of Rubio's $22,000 loss from the limited partnership can he deduct in the current year considering all limitations? QUESTION 10 Anwar owns a rental home and is involved in maintaining it and approving renters. During the year he has a net loss of $8,000 from renting the home. His other sources of income during the year were a salary of $111,000 and $25,000 of long-term capital gains. How much of Anwar's $8,000 rental loss can he deduct currently if he has no sources of passive income? (Enter your answer as a positive) Step by Step Solution
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