Nareh began the year with a tax basis of $45,000 in her partnership...
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Accounting
Nareh began the year with a tax basis of $ in her partnership interest. Her share of partnership liabilities consists of $ of recourse liabilities and $ of nonrecourse liabilities at the beginning of the year and $ of recourse liabilities and $ of nonrecourse liabilities at the end of the year. During the year, she was allocated $ of partnership ordinary business loss. Nareh does not materially participate in this partnership, and she has $ of passive income from other sources.
c How much of Nareh's loss is limited by the passive activity loss rules?
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