Rubio recently invested $20,500 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $15,350. In addition, Rubio's share of the limited partnership loss for the year is $22,650, his share of Income from a different limited partnership Is $5,075, and he has $40,500 in wage Income and $10,250 In long-term capital gains.

a. How much of Rubio's $22,650 loss is allowed considering only the tax-basis loss limitations?

b. How much of the loss from part (a) is allowed under the at-risk limitations?

Loss allowed as per at-risk limitation

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c. How much of Rubio?s $22,650 loss from the limited partnership can he deduct in the current year considering all limitations?

Deductible Loss

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