Larry's tax basis in his partnership interest at the beginning of the year was $27,500. If his share of the partnership debt increased by $13,000 during the year and his share of partnership income for the year is $6,500, what is his tax basis in his partnership interest at the end of the year? Tax basis Alfonso began the year with a tax basis in his partnership interest of $48,000. His share of partnership debt at the beginning and end of the year consists of $10,000 of recourse debt and $9,000 of nonrecourse debt. During the year, he was allocated $60,000 of partnership ordinary business loss. Alfonso does not materially participate in this partnership and he has $3,000 of passive income from other sources. b. How much of Alfonso's loss is limited by his at-risk amount? Loss limited by his at-risk amount c. How much of Alfonso's loss is limited by the passive activity loss rules? Loss limited by passive activity loss rules