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! Required Information (The following information applies to the questions displayed below.) Rubio recently invested $31,000 (tax basis) in purchasing a limited partnership interest. His

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! Required Information (The following information applies to the questions displayed below.) Rubio recently invested $31,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $22,700. In addition, Rubio's share of the limited partnership loss for the year is $36,300, his share of income from a different limited partnership is $6,650, and he has $51,000 in wage income and $15,500 in long-term capital gains. a. How much of Rubio's $36,300 loss is allowed considering only the tax-basis loss limitations? Loss allowed as per tax basis loss limitation Required information [The following information applies to the questions displayed below.] Rubio recently invested $31,000 (tax basis) in purchasing a limited partnership Interest. His at-risk amount is $22,700. In addition, Rubio's share of the limited partnership loss for the year is $36,300, his share of income from a different limited partnership is $6,650, and he has $51,000 in wage income and $15,500 in long-term capital gains. b. How much of the loss from part (a) is allowed under the at-risk limitations? Loss allowed as per at-risk limitation Required information [The following information applies to the questions displayed below.) Rubio recently invested $31,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $22,700. In addition, Rubio's share of the limited partnership loss for the year is $36,300, his share of income from a different limited partnership is $6,650, and he has $51,000 in wage income and $15,500 in long-term capital gains. c. How much of Rublo's $36,300 loss from the limited partnership can he deduct in the current year considering all limitations? Deductible loss

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