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Required information Problem 7-60 (LO 7-4) (Static) [The following information applies to the questions displayed below.] Rubio recently invested $20,000 (tax basis) in purchasing a

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Required information Problem 7-60 (LO 7-4) (Static) [The following information applies to the questions displayed below.] Rubio recently invested $20,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $15,000. In addition, Rubio's share of the limited partnership loss for the year is $22,000, his share of income from a different limited partnership is $5,000, and he has $40,000 in wage income and $10,000 in long-term capital gains. Problem 7-60 Part-b (Static) b. How much of the loss from part (a) is allowed under the at-risk limitations? Loss allowed as per at-risk limitation

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