In 2021, Fred invested $127,000 in a general partnership. Fred's interest is not considered to be a passive activity. If his share of the partnership losses is $88,900 in 2021 and $62,230 in 2022, how much can he deduct in each year? Fred can deduct Feedback Check My Work X in 2021 and X in 2022. The at-risk rules limit the deductibility of losses from business and income-producing activities.
In 2021, Fred invested $127,000 in a general partnership. Fred's interest is not considered to be a passive activity. If his share of the partnership losses is $88,900 in 2021 and $62,230 in 2022, how much can he deduct in each year? Fred can deduct Feedback Check My Work X in 2021 and X in 2022. The at-risk rules limit the deductibility of losses from business and income-producing activities.
Chapter11: Invest Or Losses
Section: Chapter Questions
Problem 34P
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