Required information Problem 7-60 (LO 7-4) (Algo) The following information applies to the questions displayed below.) Rublo recently invested $31,500 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is $23,050. In addition, Rubio's share of the limited partnership loss for the year is $36,950, his share of income from a different limited partnership is $6,725, and he has $51,500 in wage income and $15,750 in long-term capital gains. Problem 7-60 Part-a (Algo) a. How much of Rubio's $36,950 loss is allowed considering only the tax-basis loss limitations? Los allowed as per tax basis loss limitation b. How much of the loss from part (a) is allowed under the at-risk limitations? Loss allowed as per at-risk limitation c. How much of Rubio's $36,950 loss from the limited partnership can he deduct in the current year considering all limitations? Deductible loss 30.225