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Rublo recently invested $32,000 (tax basis) in purchasing a limited partnership Interest in which he will have no management rights in the company. His

Rublo recently invested $32,000 (tax basis) in purchasing a limited partnership Interest in which he will have no management rights in the company. His at-risk amount is $23,400. In addition, Rublo's share of the limited partnership loss for the year is $37,600, his share of income from a different limited partnership is $6,800, and he has $52,000 in wage Income and $16,000 in long-term capital gains. a. How much of Rubio's $37.600 loss is allowed considering only the tax-basis loss limitations? Loss allowed as per tax basis loss limitation

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