Required information Problem 7-60 (LO 7-4) (Algo) The following information applies to the questions displayed below) Rubio recently invested $27,500 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company His at-risk amount is $20,250. In addition, Rubio's share of the limited partnership loss for the year is $31750, his share of income from a different limited partnership is $6,125, and he has $47,500 in Wage income and $13,750 in long-term capital gains. Problem 7-60 Part-a (Algo) a. How much of Rubio's $31750 loss is allowed considering only the tax-basis loss limitations? Loss allowed as per tax basis loss Imitation V 1 0 Required information Problem 7.60 (LO 7-4) (Algo) The following information applies to the questions displayed below! Rubio recently invested $27.500 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company His at-risk amount is $20,250. In addition, Rubio's share of the limited partnership loss for the year is $31750, his share of income from a different limited partnership is $6125, and he has $47500 in wage income and $13,750 in long-term capital gains Problem 7-60 Part-b (Algo) b. How much of the loss from part (a) is allowed under the at-risk limitations? Loss allowed as per ateik imitation 2 101 Required information Problem 7.60 (LO 7.4)(Algo) The following information applies to the questions displayed below Rublo recent invested $27500 (tax basis in purchasing a limited partnership Interest in which he will have no management rights in the company His at risk amount is $20.250 in addition Rubio's share of the limited partnership loss for the years $31750. his share of income from a different limited partnership is $125 and he has $47.500 in Wage income and 513750 in long-term capital gains ok Problem 7-60 Part-c (Algo) c. How much of Rudes $31750 loss from the limited partnership can he deduct in the current year considering af limitations? Dechi