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How much of the loss from candy apple can john deduct

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Question - John, a limited partner of Candy Apple, LP, is allocated $30,500 of ordinary business loss from the partnership. Before the loss allocation, his tax basis is $20,500 and at-risk amount is $10,500. John also has ordinary business income of $20,500 from Sweet Pea, LP as a general partner and ordinary business income of $8,000 from Red Tomato, as a limited partner. How much of the $30,500 loss from Candy Apple can John deduct currently?

Reference no: EM132636617

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