Solution-How much of the losses can liam deduct

How much of the losses can liam deduct

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Reference no: EM132385569

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In 2019, Liam invested $100,000 for a 25% interest in a partnership involved in an activity in which he is a material participant. The partnership reported losses of $340,000 in 2019 and $180,000 in 2020 with Liam's share being $85,000 in 2019 and $45,000 in 2020. How much of the losses can Liam deduct?

Reference no: EM132385569

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How much of the losses can liam deduct

Reference no: EM132385569

Reference no: EM132385569

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