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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 50 percent owner of Rockit (a business entity). In the current year, Rockit reported a $100,000 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 $20,000 basis and at-risk amount in his ownership interest in Rockit. Damarcus reports $10,000 of income from another business activity in which he is a passive investor. How much of the $50,000 loss allocated to him by Rockit is Damarcus allowed to deduct this yeaR
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