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Larry recently invested $20,295 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk

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Larry recently invested $20,295 (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 $20,295. In addition, Larry's share of the limited partnership loss for the year is $4,234, his share of income from a different limited partnership was $5,297, and he has $8,512 of dividend income from the stock he own. How much of Larry's $4,234 loss from the limited partnership can he deduct in the current year

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