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 : Compute Mr. Cheney’s recognized gain (loss) from the sale of his partnership interest....
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This note was uploaded on 09/09/2011 for the course TAX 6845 taught by Professor Kelliher,c during the Fall '08 term at University of Central Florida.
- Fall '08