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How much loss is currently deductible by each partner

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Question - Sally and Ted are equal partners in the S & T Partnership. On January 1 of the current year, the Partnership had no debt, and each partner's adjusted basis in S & T was $40,000. During the current year, S & T Partnership borrowed $6,000, for which Sally and Ted are personally liable. S & T sustained an operating loss of $100,000 for the current year ended December 31. How much loss is currently deductible by each partner?

Reference no: EM132527399

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