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Leann has basis in her partnership interest of $7,000 and an at-risk amount of $4,000 at year-end before considering the partnership ordinary loss of ($10,000).
Leann has basis in her partnership interest of $7,000 and an at-risk amount of $4,000 at year-end before considering the partnership ordinary loss of ($10,000). Leann does NOT materially participate in the partnership activities. Leann has passive income of $5,000 from her other passive activities and $10,000 of wages and salaries income. How much of Leann's loss is suspended due to at-risk and tax basis limitations, combined?
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