Rubio recently invested $29,000 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is $21,300. In addition, Rubios 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 Rubios $33,700 loss is allowed considering only the tax-basis loss limitations?

Loss allowed as per tax basis loss limitation:

b. How much of the loss from part (a) is allowed under the at-risk limitations?

Loss allowed as per at-risk limitation: