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Rachel is a partner in UVW Partnership, a partnership that uses the accrual basis of accounting for tax purposes. In 2023, UVW Partnership allocated the

Rachel is a partner in UVW Partnership, a partnership that uses the accrual basis of accounting for tax purposes. In 2023, UVW Partnership allocated the following net loss to Rachel:
Partner Allocated Net Loss
Rachel $120,000
Can Rachel deduct this amount on her personal income tax return?

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