What may ron deduct on his income tax return, Taxation

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What may ron deduct on his income tax return

Question: Ron's investment in his XYZ partnership interest on December 31, 2022, was $12,000. As the result of a serious downturn in business, the partnership calculates Ron's share of the partnership's losses in 2023 will be $14,500. How much of this projected 2023 loss, if any, may Ron deduct on his income tax return for 2023? A) $0 B) $12,000 C) $14,000 D) $2,500

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