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Perry is a partner in a calendar year partnership. His Schedule K-1 for the current tax year showed the following: Ordinary business loss $ (20,000

Perry is a partner in a calendar year partnership. His Schedule K-1 for the current tax year showed the following:

Ordinary business loss $ (20,000 )

Short-term capital gain 2,100

Dividend income 1,600

Cash distribution 5,800

Perry's tax basis in his partnership interest at the beginning of the year was $15,400. How much of the ordinary loss may he deduct on his Form 1040? Assume the excess business loss limitation does not apply.

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