In 2017, liam invested $100,000 for a 25% interest in a partnership involved in an activity in which he is a material participant. the partnership reported losses of $340,000 in 2017 and $180,000 in 2018 with liam’s share being $85,000 in 2017 and $45,000 in 2018. how much of the losses can liam deduct?
a.$0 in 2017, $0 in 2018.
b.$85,000 in 2017, $0 in 2018.
c.$85,000 in 2017, $15,000 in 2018.
d.$85,000 in 2017, $45,000 in 2018.
e. none of the above.
Answers: 1
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In 2017, liam invested $100,000 for a 25% interest in a partnership involved in an activity in which...
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