Details of this Paper

In 2007, Pearl invests $80,000 for a 10% partnership interest in an activity

Description

solution


Question

In 2007, Pearl invests $80,000 for a 10% partnership interest in an activity in which she is a material participant. The partnership reports losses of $500,000 in 2007 and $450,000 in 2008. Pearl's share of the;partnership's losses is $50,000 in 2007 and $45,000 in 2008. How much of the losses can Pearl deduct?

 

Paper#25522 | Written in 18-Jul-2015

Price : $22
SiteLock