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How much of larry loss from the limited partnership

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Question - Larry recently invested $23,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is also $23,000. In addition, Larry's share of the limited partnership loss for the year is $2,150, his share of income from a different limited partnership is $1,060, and he has $3,300 of dividend income from the stock he owns. How much of Larry's $2,150 loss from the limited partnership can he deduct in the current year?

Reference no: EM132122442

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