Sandra purchased a limited partnership interest in Year 1. She had nondeductible passive losses of $30,000 in Year 1 and $20,000 in Year 2 from the partnership. If she sells her partnership interest in Year 3 for a $10,000 gain, has $15,000 of income from the partnership up to the date of sale, and has $100,000 of nonpassive income, how much can she deduct in Year 3?
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Sandra purchased a limited partnership interest in Year 1. She had nondeductible passive losses of $...
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