Question
In 2017, Kirk invested $50,000 in a general partnership in which he participates more than 500 hours per year. Kirks share of the business deductible
In 2017, Kirk invested $50,000 in a general partnership in which he participates more than 500 hours per year. Kirks share of the business deductible losses for 2017 was $20,000. Kirks share of the business deductible losses for 2018 was $35,000.
What amount can Kirk deduct in 2017?
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Foster George, Srikand M. Datar, Maureen P. Gowing
5th Canadian Edition
0135004934, 978-0135004937
