10.6: The equal ABC partnership owns a restaurant in Rallas and a clothing store in San...

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10.6: The equal ABC partnership owns a restaurant in Rallas and a clothing store in San Diego. It has $300,000 of loss from the restaurant and a $120,000 loss from the clothing store. Partner A materially participates in the restaurant, but has little to do with the clothing store. The partnership also earns $21,000 of interest during the year. A has no passive income from other activities. How much income or loss does A have from ABC, and how much of the loss can he deduct? 10.6: The equal ABC partnership owns a restaurant in Rallas and a clothing store in San Diego. It has $300,000 of loss from the restaurant and a $120,000 loss from the clothing store. Partner A materially participates in the restaurant, but has little to do with the clothing store. The partnership also earns $21,000 of interest during the year. A has no passive income from other activities. How much income or loss does A have from ABC, and how much of the loss can he deduct?