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How much of Larry loss from the limited partnership

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Question - Larry recently invested $26,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is also $26,000. In addition, Larry's share of the limited partnership loss for the year is $2,300, his share of income from a different limited partnership is $1,120, and he has $3,600 of dividend income from the stock he owns. How much of Larry's $2,300 loss from the limited partnership can he deduct in the current year?

Reference no: EM132666650

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