Question
During the year, Janice invested $2,000 (tax basis and at-risk basis) into ABC limited partnership (a passive investment). Her share of the limited partnership income
During the year, Janice invested $2,000 (tax basis and at-risk basis) into ABC limited partnership (a passive investment). Her share of the limited partnership income for the year was $6,000, and Janice received a $5,000 distribution from ABC limited partnership. During the year, Janice invested $5,500 (tax basis and at-risk basis) into DEF limited partnership (a passive investment). Her share of the limited partnership loss for the year was $6,500, and Janice received a $3,000 distribution from DEF limited partnership.
What is Janice's net income/loss from the limited partnerships?
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Corporate Reporting In India Financial And Social Performance Disclosures
Authors: V.K. Vasal
1st Edition
8177081217, 978-8177081213
