In 2010 kelly who earns a salary of 200000 invests 40000


In 2010, Kelly, who earns a salary of $200,000, invests $40,000 for a 20% interest in a partnership not subject to the passive loss rules. Through the use of $800,000 of nonrecourse financing, the partnership acquires assets worth $1 million. Depreciation, interest, and other deductions related to the activity produce a loss of $150,000, of which Kelly's share is $30,000. In 2011, Kelly's share of the loss from the partnership is $15,000. How much of the loss from the partnership can Kelly deduct?

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Financial Accounting: In 2010 kelly who earns a salary of 200000 invests 40000
Reference No:- TGS01008236

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