Business, 22.04.2021 16:30 Elexis8591
In 2020, Kipp invested $65,000 for a 30% interest in a partnership conducting a passive activity. The partnership reported losses of $200,000 in 2020 and $100,000 in 2021, Kipp's share being $60,000 in 2020 and $30,000 in 2021. How much of the losses from the partnership can Kipp deduct assuming he owns no other investments and does not participate in the partnership's operations?
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In 2020, Kipp invested $65,000 for a 30% interest in a partnership conducting a passive activity. Th...
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