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Required information Problem 15-55 (LO 15-3) The following information applies to the questions displayed below) Dannits a single 30 percent owner of Kolt a business

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Required information Problem 15-55 (LO 15-3) The following information applies to the questions displayed below) Dannits a single 30 percent owner of Kolt a business entity). In the current year, Kolt reported a $1.000.000 business loss. Answer the following questions associated with each of the following alternative scenarios: (Leave no answer blank. Enter zero if applicable.) Problem 15-55 Part b b. Kolt is organized as an LLC taxed as a partnership. Thirty percent of Kolt's loss is allocated to Danni. Danni works 20 hours a week on Kolt business activities (she is not considered to be a passive investor in Kolt). Danni has a $400,000 basis in her Kolt ownership interest and she also has a $400.000 at-risk amount in her investment in Kolt. Danni does not report income or loss from any other business activity investments. How much of the $300,000 loss allocated to her from Kolt is Danni allowed to deduct this year? Allowable deduction of loss

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