Saturday
August 1, 2015

Homework Help: tax

Posted by Andy on Thursday, May 10, 2012 at 4:02pm.

Bailey owns a 20% interest in a partnership (not involved in real estate) in which his at-risk amount was $25,000 at the beginning of the year. During the year, Bailey receives a distribution of $20,000 from the partnership. The partnership produces an $80,000 loss during the year. If you ignore the passive loss rules, Bailey's deductible loss for the year is:
$5,000
$20,000
$25,000
$80,000

is it 20,000

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Members