Problem $7-60($LO $7-4)($Algo$)$

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Rubio recently invested $$23,500($tax basis$)$ in purchasing a limited partnership interest in which he will have no management rights in the company. His at$-$risk amount is $$17,450.$ In addition, Rubio's share of the limited partnership loss for the year is $$26,550,$ his share of income from a different limited partnership is $$5,525,$ and he has $$43,500$ in wage income and $$11,750$ in long$-$term capital gains.

Problem $7-60$ Part$-$c $($Algo$)$

c$.$ How much of Rubio's $$26,550$ loss from the limited partnership can he deduct in the current year considering all limitations$?$