Suzanne is a 40% general partner in Redrock Partnership. Suzanne's beginning basis is $18,000, and Redrock has the following tax items for the current year Ordinary business loss $42,000 Short-term capital gain $ 2,000 Dividend income $ 3,000 Suzanne received a distribution of $6,000 during the year. What is Suzanne's deductible loss and ending basis?

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Suzannes Taxable Income and Basis in Redrock Partnership Heres how to calculate Suzannes deductible ... View the full answer