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Question 15 Last year, Ms. Margot purchased a limited interest in a business partnership, which is her only passive activity. Last year, she was allocated

Question 15

Last year, Ms. Margot purchased a limited interest in a business partnership, which is her only passive activity. Last year, she was allocated $14,900 of the partnership's ordinary business loss. This year, she was allocated $7,700 of the partnership's ordinary business income. Which of the following statements is false?

Group of answer choices

This year, Ms. Margot can deduct $7,700 of last years loss.

Ms. Margot has a $7,200 passive activity loss carryforward into next year.

Last year, Ms. Margot could not deduct any of her allocated partnership loss.

None is false.

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