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Required information Problem 09.75 (LO 09-5, LO 09-6) (Algo) [The following information applies to the questions displayed below] Juan Diego began the year with a tax basis in his partnership interest of $52,600. During the year, he was allocated $21,040 of partnership ordinary business income, $73,640 of $1231 losses, and $31,560 of short-term capital losses and received a cash distribution of $52,600. Note: Do not round intermediate colculations. roblem 09-75 Part a (Algo) What items related to these allocations does Juan Diego actually report on his tax return for the year? [Hint. See Regulations $1704 d)(2) and Revenue Rule 66-94.] Required information Problem 09-75 (LO 09-5, LO 09-6) (Algo) [The following information applies to the questions displayed below] Juan Diego began the year with a tax basis in his partnership interest of $52,600. During the year, he was allocated $21,040 of partnership ordinary business income, $73,640 of $1231 losses, and $31,560 of short-term capital losses and received a cash distribution of $52,600. Note: Do not round intermediate calculations. Problem 09.75 Part b (Algo) D. If any deductions or losses are limited, what are the carryover amounts, and what is their character? [Hint See Regulations 51704 - (d).]

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