In 2018, Fred invested $50,000 in a general partnership. Freds interest is not considered to be a

Question:

In 2018, Fred invested $50,000 in a general partnership. Fred’s interest is not considered to be a passive activity. If his share of the partnership losses is $35,000 in 2018 and $25,000 in 2019, how much can he deduct in each year?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...

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