Solution-Discuss how much of the loss is a suspended loss

Discuss how much of the loss is a suspended loss

Reference no: EM131774512

Leslie Ann owned an interest in several limited partnerships in 2016. Gains and losses passed through to Leslie are as follows.

Partnership	Date Acquired	Allocated Gain (Loss)
O & G 1	3/26/84	$12,000
O & G 2	5/19/86	(30,000)
O & G 3	11/13/88	( 5,000)
O & G 4	1/08/89	( 6,000)
O & G 5	7/11/90	20,000

(a) What is Leslie's net passive loss for 2016?

(b) How much of the loss may be deducted against active and portfolio income?

Reference no: EM131774512

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Discuss how much of the loss is a suspended loss

Reference no: EM131774512

Reference no: EM131774512

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