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Ron's investment in his XYZ partnership interest on December 3 1 , 2 0 2 3 , was $ 1 2 , 0 0 0

Ron's investment in his XYZ partnership interest on December 31,2023, was $12,000. As the result of a serious downturn in business, the partnership calculates Ron's share of the partnership's losses in 2024 will be $14,500. How much of this projected 2024 loss, if any, may Ron deduct on his income tax return for 2024?

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