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Which of the following individuals will be able to deduct the described losses in full in the current year? MAKE SURE YOU GO THROUGH THE

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Which of the following individuals will be able to deduct the described losses in full in the current year? MAKE SURE YOU GO THROUGH THE CHAPTER 11 NOTES AND SOLUTIONS TO THE CHAPTER 11 HANDOUT!! Check all that apply!!! Chuck who has a $5,000 loss from a limited partnership interest. His other income is $120,000 from wages and $8,000 from rental income on a duplex he owns. Sherry, a materially participating sole proprietor with basis and amounts at risk of $60,000. She has a $10,000 loss from her sole proprietorship. Clyde who has income of $90,000 from self-employment, $5,000 of dividends, and a $3,000 loss from a limited partnership interest where he is just an investor in the partnership Sally who has a $1,500 current loss and a $3,000 suspended loss from a limited partnership interest in TDK Realty Partners (she is only an investor). She has no other passive activity. She sells TDK in the current year for a $2,500 gain

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