Myer owns a 20% interest in a partnership (not involved in real estate) in which...
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Accounting
Myer owns a 20% interest in a partnership (not involved in real estate) in which his at-risk amount was $50,000 at the beginning of the year. During the year, he receives a $40,000 distribution from the partnership. The partnership produces a $160,000 loss during the year. What is Myers deductible loss for the year (ignore passive loss rules)?
a..$0.
b..$50,000.
c..$10,000.
d..$32,000.
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