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In 2017, Devin invested $200,000 as a limited partner in a XYZ Limited Partnership. Devin worked more than 500/hours per year in the LP. During
In 2017, Devin invested $200,000 as a limited partner in a XYZ Limited Partnership. Devin worked more than 500/hours per year in the LP. During 2017, Devins share of XYZ LPs deductible losses was $20,000. In 2017, Devin also had $9,000 in passive income from another LP, $100,000 in salary income (active income), and $10,000 in dividend income (portfolio income). What amount of the $20,000 loss from XYZ LP can Devin deduct in 2017?
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