$30\mathrm{.}0\%$ complete

Question

In Year $1,$ Kipp invested $$50,000$ for a $30\%$ interest in a partnership conducting a passive activity.$$ The partnership reported losses of $$200,000$ in Year $1$ and $$100,000$ in Year $2,$ Kipp$$s share being $$60,000$ in Year $1$ and $$30,000$ in Year $2.$ In addition, Kip has rental income of $$70,000$ from an apartment building he owns in Year $1$ and $$50,000$ income in Year $2.$ How much of the losses from the partnership can Kipp deduct with regards to the partnership?

A$.$$$0$ in Year $1,$ $$0$ in Year $2$

B$.$$$50,000$ in Year $1,$ $$0$ in Year $2.$

C$.$$$60,000$ in Year $1,$ $$30,000$ in Year $2.$

D$.$$$70,000$ in Year $1,$ $$0$ in Year $2.$