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Business, 03.03.2020 00:57 saintsfan2004

An investor contributes $10,000 to a limited partnership and signs a $40,000 recourse note. In the first year, the investor's distributive share of income is $15,000 and loss is $70,000. The partnership distributed $5,000 of cash during the year. How much loss can be deducted for this year

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An investor contributes $10,000 to a limited partnership and signs a $40,000 recourse note. In the f...
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