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Business, 12.11.2019 02:31 HNesmith16

Anumber of years ago, kay acquired an interest in a partnership in which she is not a material participant. kay's basis in her partnership interest at the beginning of 2014 is $40,000. kay's share of the partnership loss is $35,000 in 2014, while her share of the partnership income is $15,000 in 2015. assuming she owns no other passive activities. if an amount is zero, enter "0".a. in 2014, kay can deduct $ 0 of the passive losses. b. in 2015, kay can deduct $ 15000 of the passive losses. c. after deducting the passive loss, the remaining $ of the 2014 passive loss is carried forward to 2016.

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