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Required information [The following information applies to the questions displayed below) Rublo recently invested $29,000 (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) Rublo recently invested $29,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $21,300 In addition, Rubio's share of the limited partnership loss for the year is $33,700, his share of income from a different limited partnership is $6,350, and he has $49,000 in wage income and $14,500 in long-term capital gains. a. How much of Rubio's $33,700 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 $29,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $21,300. In addition, Rubio's share of the limited partnership loss for the year is $33,700, his share of income from a different limited partnership is $6,350, and he has $49,000 in wage income and $14,500 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

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