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 $31,750, 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-b (Algo) b. How much of Rubio's $31,750 loss is allowed under the at-risk limitations? 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 $31,750, 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. oblem 7-60 Part-c (Algo) How much of Rubio's $31,750 loss from the limited partnership can he deduct in the current year considering all limitations? 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 $31,750, 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 $31,750 loss is allowed considering only the tax-basis loss limitations