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J . T . is a limited partner in Nole, LP , and he is a passive participant in the partnership. At the beginning of

J.T. is a limited partner in Nole, LP, and he is a passive participant in the partnership. At the beginning of the tax year, J.T.'s basis in his partnership interest was $250,000. This basis amount included $40,000 of nonrecourse debt. David earned $150,000 of passive income from another passive activity during the tax year, and his share of ordinary loss from Nole, LP is $275,000.
How much (if any) of the $275,000 loss would be suspended under the passive loss limitation?

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