Question 33 5 pts 38. Michael invests in Buxus Interests, a partnership. Michae's capital contribution to the partnership consists of $10.000 cash and equipment with an adjusted basis of $120,000 (fair market value of $150,000) subject to a nonrecourse liability of $60.000. Calculate the amount that Michael is at-risk in the activity after making the above contribution? a. If Michael's share of the partnership loss in the year after he makes the contribution is $150,000, how much of the loss may be deducted in that year (before considering the limitations on passive losses)? Assune the partnership had no other transactions b. If Michael has any nondeductible loss in part b, what may Michaei do with the nondeductible loss? C. HTML Editor