What is the most that kerline can deduct in 2014

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Reference no: EM13542237

In 2014, Kerline invested $40,000 in a cattle-feeding partnership that used nonrecourse notes to purchase $30,000 of feed, which was used to feed the cattle and expensed. If Kerline's share of the expense was $50,000, what is the most that Kerline can deduct in 2014?

Reference no: EM13542237

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