Question: 11-51 Jonathan, a physician, earns $200,000 from his practice. He also receives $18,000 in dividends and interest from various portfolio investments. During the year, he

11-51 Jonathan, a physician, earns $200,000 from his practice. He also receives $18,000 in dividends and interest from various portfolio investments. During the year, he pays $45,000 to acquire a 20% interest in a partner- ship that produces a $300,000 loss. Compute Jonathans AGI, assuming that:

a. He does not participate in the operations of the partnership

Beginning at Risk Balance

Investment

Less Loss

Ending at risk

Deduction allowed

Gross Income

Deduction allowed

Dividends & Interest

Taxable Income

b. He is a material participant in the operations of the partnership.

Beginning at Risk Balance

Investment

Less Loss

Ending at risk

Deduction allowed

Gross Income

Deduction allowed

Dividends & Interest

Taxable Income

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