Business, 13.11.2019 04:31 Gearyjames8

Sue invested $12,000 in the abc limited partnership and received a 10 percent interest in the partnership. the partnership had $34,000 of qualified nonrecourse debt and $34,000 of debt she is not responsible to repay because she is a limited partner. sue is allocated a 10 percent share of both types of debt resulting in a tax basis of $18,800 and an at risk amount of $15,400. during the year, abc lp generated a ($97,000) loss. how much of sue's loss is disallowed due to her tax basis or at-risk amount?

zero; all of her loss is allowed to be deducted.

$3,400 disallowed because of her at-risk amount

$4,800 disallowed because of her tax basis

$6,800 disallowed because of her tax basis

$6,800 disallowed because of her at-risk amount

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Sue invested $12,000 in the abc limited partnership and received a 10 percent interest in the partne...

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