Larry recently invested $32,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is also $32,000. In addition, Larrys share of the limited partnership loss for the year is $2,600, his share of income from a different limited partnership is $1,240, and he has $4,200 of dividend income from the stock he owns. How much of Larrys $2,600 loss from the limited partnership can he deduct in the current year?

Deductible Loss?