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Larry recently invested $30,000 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk

Larry recently invested $30,000 (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 $30,000. In addition, Larrys share of the limited partnership loss for the year is $2500, his share of income from a different limited partnership was $1200, and he had $4000 of dividend income from the stock he owns. How much of Larry's $2500 loss from the limited partnership can he deduct in the current year?

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