Problem 7-59 (LO 7-4) (Algo) Larry recently invested $32,500 (tax basis) in purchasing a limited partnership Interest in which he will have no management rights in the company. His at-risk amount is also $32,500. In addition, Larry's share of the limited partnership loss for the year is $2,625, his share of income from a different limited partnership is $1,250, and he has $4,250 of dividend income from the stock he owns. How much of Larry's $2,625 loss from the limited partnership can he deduct in the current year? Deductible loss