Question: L is a partner with an outside basis = $30,000. The basis is made up of a $10,000 contribution of cash and a $20,000 share

L is a partner with an outside basis = $30,000. The basis is made up of a $10,000 contribution of cash and a $20,000 share of the partnership’s nonrecourse financing. L’s share of partnership losses for the current year is $18,000.

What L may deduct in the current year?

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