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Required information [The following information applies to the questions displayed below Rubio recently invested $30,000 (tax basis) in purchasing a limited partnership interest. His at-risk

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Required information [The following information applies to the questions displayed below Rubio recently invested $30,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $22,000. In addition, Rubio's share of the limited partnership loss for the year is $35,000, his share of income from a different limited partnership is $6,500, and he has $50,000 in wage income and $15,000 in long-term capital gains. c. How much of Rubio's $35,000 loss from the limited partnership can he deduct in the current year considering all limitations? Answer is complete but not entirely correct Deductible loss S 22,000

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