Question
In January 2011, Jacinto purchased an interest in a nonpublicly traded limited partnership that will generate a $10,000 passive loss for the current tax year.
In January 2011, Jacinto purchased an interest in a nonpublicly traded limited partnership that will generate a $10,000 passive loss for the current tax year. He also owns an interest in a publicly traded limited partnership that will generate passive income of $6,000 for the current tax year. How much of this passive loss, if any, can Jacinto deduct during the current tax year?
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2 The Pansin Loss for Cument tex year 1000 2 The Passive ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
