Question: Your client paid $ 9 0 , 0 0 0 for a 3 0 percent interest in a general partnership in which they materially participate.

Your client paid $90,000 for a 30 percent interest in a general partnership in which they materially participate. The partnership loss for the year is $350,000. How much can they deduct this year?
$0.
$27,000.
$90,000.
$105,000.
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