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How much of the loss from Candy Apple can John deduct

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Reference no: EM132706734

Problem - John, a limited partner of Candy Apple, LP, is allocated $36,500 of ordinary business loss from the partnership. Before the loss allocation, his tax basis is $26,500 and at-risk amount is $16,500. John also has ordinary business income of $26,500 from Sweet Pea, LP as a general partner and ordinary business income of $9,100 from Red Tomato, as a limited partner. How much of the $36,500 loss from Candy Apple can John deduct currently?

Reference no: EM132706734

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