Question
In 2018, Devin invested $200,000 as a limited partner in a XYZ Limited Partnership.Devins share of XYZ LPs deductible loss for 2018 was $20,000.In 2018,
In 2018, Devin invested $200,000 as a limited partner in a XYZ Limited Partnership.Devins share of XYZ LPs deductible loss for 2018 was $20,000.In 2018, Devin also had $100,000 in salary income, $7,000 in portfolio income, and$11,000 in passive income (from another passive activity - ABC LP). What amount of the$20,000 loss from XYZ LP can Devin deduct in 2018? Enter as a positive number.
Same facts as previous question.
In 2019, Devin's share of income from XYZ LP was $5,000. Devin also had salary income
of $50,000 and portfolio income of $1,000. ABC LP (Devin's other passive activity) did not
generate a gain or loss in 2019.
What amount of passive activity losses can Devin deduct in 2019? Enter as a positive
number.
Same facts as previous question.
On January 1, 2020, Devin sold his interest in XYZ LP.
In 2020, Devin had salary income of $50,000 and portfolio income of $1,000. ABC LP did
not generate a gain or loss in 2020.
What amount of passive activity losses can Devin deduct in 2020? Enter as a positive
number.
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