Unformatted text preview: at-risk amount. Thus, his at risk amount was zero, and he had an $8,000 suspended ordinary loss under the at-risk limitations. During the year Mr. Cheney sold his interest to another partner for $1,000 cash. Required : What does Mr. Cheney recognize from the sale of his partnership interest?...
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- Spring '09
- Corporation, Partnership Accounting, Negative and non-negative numbers, The Sale, Mr. Cheney