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I n Year 2 0 2 4 Rubio recently invested $ 2 0 , 0 0 0 ( t a x basis ) i n

In Year 2024 Rubio recently invested $20,000(tax basis)in purchasing a limited partnership interest in which he will have no
management rights in the company. His at-risk amount is $15,000.In addition, Rublo's share of the limited
partnership loss for the year is $22,000, his share of income from a different iimited partnership is $5,000, and he
has $40,000in wage income and $10,000in long-term capital gains.
a. How much of Rubio's $22,000 loss is allowed considering only the tax-basis loss ilmitations?
b. How much of Rubio's $22,000 loss is allowed under the at-risk limitations?
c. How much of Rubio's $22,000 loss from the limited partnership can he deduct in the current year considering all limitations?
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