Jean Kelley owned three limited partnership interests in 2018: How much is her passive loss deduction (against
Question:
Jean Kelley owned three limited partnership interests in 2018:
How much is her passive loss deduction (against nonpassive activities) and suspended loss for each activity?
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2018 Allocated Date Gain/ Partnership Acquired (Loss) MNO 05/03/97 (4.000) OSD 10/14/97 10,000 CMP 11/15/98 (6,000) Pre-2018 Suspended Loss (14,000) (3,000) (2.000)
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To calculate Jean Kelleys passive loss deduction and suspended loss for each limited partnership interest we need to consider the allocated gains or l...View the full answer
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Related Book For
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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