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Tammie contributes 50000 cash in exchange for a 25 interest

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Tammie contributes $50,000 cash in exchange for a 25% interest in the profi ts and capital of the XYZ Partnership. The partnership has $300,000 of recourse debt and $100,000 of nonqualifi ed nonrecourse debt. The partnership has a loss of $800,000 for the year. How much of the loss will Tammie be able to deduct, assuming she is allocated 25% of the liabilities and the partnership is not a passive activity?

Reference no: EM13590118

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