Jamie Maslov and Teagan Phan are equal partners in Masphan Builders. Jamie is a general partner and Teagan is a limited partner. Each partner invested $20,000 in the company. Masphan experienced a loss of $50,000 this year. Which of the following statements regarding this loss is TRUE?

Multiple Choice

• Jamie may claim a loss for tax purposes of $25,000 this year.

• Teagan may claim a loss for tax purposes of $25,000 this year.

• Jamie may claim a loss for tax purposes of $50,000 this year.

• Teagan may claim a loss for tax purposes of $50,000 this year.