Anumber of years ago, lee acquired a 20% interest in the bluesky partnership for $60,000. the partnership was profitable through 2014, and lee's amount at risk in the partnership interest was $120,000 at the beginning of 2015. bluesky incurred a loss of $400,000 in 2015 and reported income of $200,000 in 2016. assuming that lee is not a material participant, how much of his loss from bluesky partnership is deductible in 2015 and 2016? consider the at-risk and passive loss rules, and assume lee owns no other passive investments.

if an amount is zero, enter "0".

lee's share of bluesky's loss in 2015 is $ . of this loss, $ can be deducted under the at-risk rules, and $ can be deducted under the passive loss rules. in 2016, he may deduct $ of his suspended loss against the passive income. this leaves a $ suspended loss at the end of 2016.