Alfonso began the year with a tax basis in his partnership interest of $ 59 , 0
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Question:
Alfonso began the year with a tax basis in his partnership interest of $ His share of partnership liabilities at the beginning and end of the year consists of $ of recourse liabilities and $ of nonrecourse liabilities. During the year, he was allocated $ of partnership ordinary business loss. Alfonso does not materially participate in this partnership, and he has $ of passive income from other sources.
a How much of Alfonso's loss is limited by his tax basis?
b How much of Alfonso's loss is limited by his atrisk amount?
c How much of Alfonso's loss is limited by the passive activity loss rules?
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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