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?
| $0. | ||
| $8,000. | ||
| $15,000. | ||
| $80,000. Income Tax |
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Accounting For Managers And Entrepreneurs
Authors: Charles T. Horngren
8th Edition
1269778684, 9781269778688
