Question
Taxpayer invested $10,000 in a partnership. Taxpayer did not qualify as a material participant in the partnership. The year one loss was $12,000. Considering the
Taxpayer invested $10,000 in a partnership. Taxpayer did not qualify as a material participant in the partnership. The year one loss was $12,000. Considering the passive activity loss limitation what is Taxpayer's allowed loss for year 1?
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Rehabilitation Tax Credit IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304114686, 978-1304114686
