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Damarcus is a 5 0 percent owner of Rockit ( a business entity ) . In the current year, Rockit reported a $ 1 0
Damarcus is a percent owner of Rockit a business entity In the current year, Rockit reported a $ business loss. Answer the following questions associated with each of the following alternative scenarios.Note: Leave no answer blank. Enter zero if applicable.e Rockit is organized as an LLC taxed as a partnership. Fifty percent of Rockit's loss is allocated to Damarcus. Damarcus does not work for Rockit at all he is a passive investor in Rockit Damarcus has a $ basis and atrisk amount in his ownership interest in Rockit. Damarcus reports $ of income from another business activity in which he is a passive investor. How much of the $ loss allocated to him by Rockit is Damarcus allowed to deduct this yeaR
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