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Business, 27.11.2019 00:31 NickWinston8712

In 2017, kipp invested $65,000 for a 30% interest in a partnership conducting a passive activity. his investment consisted of $50,000 in cash and a $15,000 non-recourse promissory note. the partnership reported losses of $200,000 in 2017 and $100,000 in 2018, kipp's share being $60,000 in 2017 and $30,000 in 2018. a) how much of the losses from the partnership can kipp deduct assuming he owns no other investments and does not actively participate in the partnership's operations? b) how much loss remains suspended on december 31, 2018 due to lack of basis? c) how much loss remains suspended on december 31, 2018 due to lack of at-risk? d) how much loss remains suspended on december 31, 2018 due to the passive activity limitations?

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