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Business, 01.05.2021 02:50 stasi6700

John, a limited partner of Candy Apple, LP, is allocated $25,000 of ordinary business loss from the partnership. Before the loss allocation, his tax basis is $18,000 and his at-risk amount is $8,000. John also has ordinary business income of $18,000 from Sweet Pea, LP, as a general partner and ordinary business income of $7,000 from Red Tomato as a limited partner. How much of the $25,000 loss from Candy Apple can John deduct currently

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