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Business, 02.09.2019 18:20 faithtunison
Sue invested $5,000 in the abc limited partnership and received a 10 percent interest in the partnership. the partnership had $20,000 of qualified nonrecourse debt and $20,000 of debt sue is not responsible to repay because she is a limited partner. sue is allocated a 10 percent share of both types of debt, resulting in a tax basis of $9,000 and an at-risk amount of $7,000. during the year, abc lp generated a ($90,000) loss. how much of sue's loss is disallowed due to her tax basis or at-risk amount?
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Answers: 1
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Sue invested $5,000 in the abc limited partnership and received a 10 percent interest in the partner...
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