How much can deduct in each year in passive activity

Reference no: EM13258130

In 2007, Fred invested $50,000 in a general partnership. Fred's interest is not considered to be a passive activity. If his share of the partnership losses is $35,000 in 2007 and $25,000 in 2008, how much can he deduct in each year?

Reference no: EM13258130

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