This preview shows page 1. Sign up to view the full content.
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. Cheneys recognized gain (loss) from the sale of his partnership interest....
View Full Document
- Fall '08