Business, 21.05.2020 05:00 mxddisonxo
A number of years ago, Kay acquired an interest in a partnership in which she is not a material participant. Kay's basis in her partnership interest at the beginning of 2018 is $40,000. Kay's share of the partnership loss is $35,000 in 2018, and her share of the partnership income is $15,000 in 2019. How much may Kay deduct in 2018 and 2019, assuming that she owns no other passive activities? If an amount is zero, enter "0". a. In 2018, Kay can deduct $ of the passive activity losses. b. In 2019, Kay can deduct $ of the passive activity losses. c. How much, if any, of the 2018 passive activity loss remains suspended at the end of 2019? $
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A number of years ago, Kay acquired an interest in a partnership in which she is not a material part...
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