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Paula is single and a 50% limited partner in business entity A that reported a loss of $1,000,000 in 2018. Paulas basis and at risk
Paula is single and a 50% limited partner in business entity A that reported a loss of $1,000,000 in 2018. Paulas basis and at risk amounts in her investment for business entity A are $450,000. Paula is also a 50% limited partner in another business entity B that reported a $600,000 profit in 2018. Determine the amount of the loss from business entity A that Paula is allowed to deduct on her 2018 tax return. Also determine how much loss from the business entity A is suspended and for what reason(s)
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