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Required information [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
Required information [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. -. How much of Rubio's $22,000 loss from the limited partnership can he deduct in the current year considering all limitations? Deductible loss
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