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Larry recently invested $ 2 0 , 0 0 0 ( tax basis ) in purchasing a limited partnership interest in which he will have
Larry recently invested $tax basis in purchasing a limited partnership interest in which he will have no management rights in the company. His atrisk amount is also $ In addition, Larry's share of the limited partnership loss for the year is $ his share of income from a different limited partnership is $ and he has $ of dividend income from the stock he owns. How much of Larry's $ loss from the limited partnership can he deduct in the current year?
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