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Denise and eric are partners in ed partnership eric owns 60

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Denise and Eric are partners in ed partnership. eric owns 60% capital, profits and loss interest. ed's only liabilities are $50,000 in accountsn payable. In august ed borrowed $120,000 on a nonrecouse basis from delta bank. the loan is secured by property with a $230,000 fmv. ed has a $200,000 ordinary loss during the current year. How much loss can eric and denise recognize?

Reference no: EM13350946

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