Susan invested $8,000 cash in SAR Partnership for a 30% general partnership interest. In its first year

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Susan invested $8,000 cash in SAR Partnership for a 30% general partnership interest. In its first year of operations, SAR lost $15,000. In its second year of operations, SAR lost an additional $14,000.

How much of the second year's losses can Susan deduct in that year?

Related Book For answer-question

Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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Posted Date: May 19, 2023 03:02 AM

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Susan invested $8,000 cash in SAR Partnership for a 30% general partnership interest. In its first year

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As a general partner in SAR Partnership Susan can deduct her share ... View the full answer

Fundamentals of Financial Accounting

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