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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 $20,000(tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is also $20,000. In addition, Larry's share of the limited partnership loss for the year is $2,000, his share of income from a different limited partnership is $1,000, and he has $3,000 of dividend income from the stock he owns. How much of Larry's $2,000 loss from the limited partnership can he deduct in the current year?

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