Question: I need typed answer with explanation don't use AI BOT. Give me a proper step by step explanation I will thumb up. Larry recently invested

I need typed answer with explanation don't use AI BOT. Give me a proper step by step explanation I will thumb up.

Larry recently invested $28,000 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at risk amount is also $28,000. In addition, Larry's share of the limited partnership loss for the year is $2,400, his share of income from a different limited partnership is $1,160, and he has $3,800 of dividend income from the stock he owns. How much of Larry's $2.400 loss from the limited partnership can he deduct in the current year? Deductible loss

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