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! Required information [The following information applies to the questions displayed below.) Rubio recently invested $24,000 (tax basis) in purchasing a limited partnership interest in

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! Required information [The following information applies to the questions displayed below.) Rubio recently invested $24,000 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is $17,800. In addition, Rubio's share of the limited partnership loss for the year is $27,200, his share of income from a different limited partnership is $5,600, and he has $44,000 in wage income and $12,000 in long- term capital gains. a. How much of Rubio's $27,200 loss is allowed considering only the tax-basis loss limitations? X Answer is complete but not entirely correct. Loss allowed as per tax basis loss limitation $ 3,600 X

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