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In 2021, Fred invested $50,000 in a general partnership. Freds interest is not considered to be a passive activity. If

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In 2021, 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 2021 and $25,000 in 2022, how much can he deduct in each year?

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The at risk rules limit Freds deductions He can deduct 35 000 in 2021 thereby …View the full answer


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Related Book For  answer-question
South Western Federal Taxation 2023 Comprehensive Volume

South Western Federal Taxation 2023 Comprehensive Volume

ISBN: 9780357719688

46th Edition

Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young

See More Books
Question Details
Chapter # 11- Investor Losses
Section: Discussion Questions
Problem: 34
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Question Posted: September 24, 2023 06:45:19
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