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Jay acquired an LP interest (passive activity) in 2015 for $20,000. Jays share of the partnerships deductible losses for 2015 was $25,000, and Jay had

Jay acquired an LP interest (passive activity) in 2015 for $20,000. Jays share of the partnerships deductible losses for 2015 was $25,000, and Jay had no passive activity income in 2015. Jay share of the partnerships income for 2016 was $35,000, and Jay had no other passive activity income in 2016. What amount can Jay deduct in 2016?

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