In the current year, Ed invests $30,000 in an oil partnership He has taxable income for the current year of $2,000 from the oil partnership and withdraws $10,000 What is Ed 's at risk amount at the end of the year ...

Beginning atrisk amount 0 Investment i ...

In the current year, Ed invests $30,000 in an oil partnership. He has taxable income for the

Question:

In the current year, Ed invests $30,000 in an oil He has taxable income for the current year of $2,000 from the oil and withdraws $10,000. What is Ed's at-risk amount at the end of the year?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...