Question: Rubio recently invested $ 2 2 , 5 0 0 ( tax basis ) in purchasing a limited partnership interest in which he will have

Rubio recently invested $22,500(tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is $16,750. In addition, Rubio's share of the limited partnership loss for the year is $25,250, his share of income from a different limited partnership is $5,375, and he has $42,500 in wage income and $11,250 in long-term capital gains.
a. How much of Rubio's $25,250 loss is allowed considering only the tax-basis loss limitations?

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