Question
Jim invests as a limited partner in XYZ partnership (his only activity) and pays $150,000 for a 10% interest. He receives a K-1, which allocates
Jim invests as a limited partner in XYZ partnership (his only activity) and pays $150,000 for a 10% interest. He receives a K-1, which allocates an $80,000 loss to him. How much of his loss is suspended under the passive activity rules?
a. $0. b. $8,000. c. $15,000. d. $80,000.
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
