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Business, 05.07.2019 18:20 marisolrojo2002

John, a limited partner of candy apple, lp, is allocated $30,000 of ordinary business loss from the partnership. before the loss allocation, his tax basis is $20,000 and at-risk amount is $10,000. john also has ordinary business income of $20,000 from sweet pea, lp as a general partner and ordinary business income of $5,000 from red tomato, as a limited partner. how much of the $30,000 loss from candy apple can john deduct currently?

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John, a limited partner of candy apple, lp, is allocated $30,000 of ordinary business loss from the...
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