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please solve In tax year 2022 , Sue invested $6,300 in the ABC Limited Partnership and received a 10 percent interest in the partnership and
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In tax year 2022 , Sue invested $6,300 in the ABC Limited Partnership and received a 10 percent interest in the partnership and will be allocated a 10 percent share of all partnership activities. During the 2022 tax year. Sue contributed an additional $2,260 bringing her tax basis and at risk amount to $8,560. As a result of operations during the 2022 tax year. ABC LP generated a $95,600 loss (Sue's 10% share of the loss is $9,560 ). Assuming Sue has sufficient passive income from other activities to offset all losses from the ABC Limited Partnership, how much. if any, of Sue's loss is disallowed for the 2022 tax year? (consider her tax basis and/or at risk amounts). 2,260 disallowed because of her tax basis Zero; all of her loss is allowed to be deducted 1,000 disallowed because of her tax basis 2.260 disallowed because of her at risk amount Step by Step Solution
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