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Required: a . What outside basis do Amir and Francesca have in their partnership interests at the end of the year? b . How much
Required:
a What outside basis do Amir and Francesca have in their partnership interests at the end of the year?
b How much of their losses are currently not deductible by Amir and Francesca because of the taxbasis limitation
c To what extent does the passive activity loss limitation apply in restricting their deductible losses for the year?
Note: For all the requirements, negative amounts should be entered with a minus sign. Leave no answers blank. Enter zero if
applicable.
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