Question: ( 3 ) Required information [ The following information applies to the questions displayed below. ] Nareh began the year with a tax basis of
Required information
The following information applies to the questions displayed below.
Nareh began the year with a tax basis of $ in her partnership interest. Her share of partnership liabilities consists of $ of recourse liabilities and $ of nonrecourse liabilities at the beginning of the year and $ of recourse liabilities and $ of nonrecourse liabilities at the end of the year. During the year, she was allocated $ of partnership ordinary business loss. Nareh does not materially participate in this partnership, and she has $ of passive income from other sources.
How much of Nareh's loss is limited by her tax basis?
How much of Nareh's loss is limited by at risk amount?
How much of Nareh's loss is limited by the activity pass rule?
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