Nonrecourse notes to purchase


In 2014, Kerline invested $40,000 in a cattle-feeding partnership that employed nonrecourse notes to purchase $30,000 of feed, which was used to feed the cattle and expensed. If Kerline's share of the expense was $50,000, what is the most that Kerline can deduct in 2014?

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Business Management: Nonrecourse notes to purchase
Reference No:- TGS0869383

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