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Unformatted text preview: passive losses from Partnership B. Because he was at risk for only $22,000 in Partnership B, he will have a loss carryover under the at risk rules for Partnership B of $3,000 ($22,000 − $25,000). His at-risk amount in Partnership B on January 1, 2012, will be zero ($22,000 − $22,000). He will have a suspended passive loss from Partnership B of $13,000 ($22,000 − $9,000). On January 1, 2012, he will be at risk in Partnership A for $19,000 ($10,000 + $9,000)....
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This note was uploaded on 02/21/2012 for the course ACCOUNTING 553 taught by Professor James during the Spring '12 term at DeVry Phoenix.
- Spring '12