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Required information [The following information applies to the questions displayed below.] Rubio recently invested $21,000 (tax basis) in purchasing a limited partnership interest in which

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Required information [The following information applies to the questions displayed below.] Rubio recently invested $21,000 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is $15,700. In addition, Rubio's share of the limited partnership loss for the year is $23,300, his share of income from a different limited partnership is $5,150, and he has $41,000 in wage income and $10,500 in long-term capital gains. a. How much of Rubio's $23,300 loss is allowed considering only the tax-basis loss llmitations? Required information [The following information applies to the questions displayed below.] Rubio recently invested $21,000 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is $15,700. In addition, Rubio's share of the limited parthership loss for the year is $23,300, his share of income from a different limited partnership is $5,150, and he has $41,000 in wage income and $10,500 in long-term capital gains. b. How much of Rubio's $23,300 loss is allowed under the at-risk limitations? Required information [The following information applies to the questions displayed below.] Rubio recently invested $21,000 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is $15,700. In addition. Rubio's share of the limited partnership loss for the year is $23,300, his share of income from a different limited partnership is $5,150, and he has $41,000 in wage income and $10,500 in long-term capital gains. How much of Rubio's $23,300 loss from the limited parthership can he deduct in the current year considering all limitations

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