Question: Victor is allocated a ( $ 2 0 , 0 0 0 ) ondinary business loss from Mangrove, a limited partinerihip in which Victor is

Victor is allocated a ( $20,000) ondinary business loss from Mangrove, a limited partinerihip in which Victor is not a material participant. His ending tasis in the partnership infterest after convidering chanses in debt allocations is $15.000. Whetorls share of Mangovers debt is as follows: recourse debt =$2,000, and nonrecourse debt -$3,000. Victor also recelved $4,000 of passive income from another investment.
[question 2 of 3] Not counting the amount of loss disallowed by the general tax basin limitation, how much (additional loss is disallowed try the at-risk basis loss limitation? in. other words, after considering the general tak basis loss limitation in the prior question, how much more of the allocated loss may Victor not recognize because of at-risk basis loss fimitation??
$5.000
$9000
50
None of these are correct
$7,000
Victor is allocated a ( $ 2 0 , 0 0 0 ) ondinary

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!