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1 in 2014 james invested 30000 in a cattle - feeding

1. In 2014, James invested $30,000 in a cattle - feeding partnership that used non recourse notes to purchase $70,000 of feed, which was used to feed the cattle and expensed. If James's share of the expense was
$50,000, what is the most that James can deduct in 2014?

a. $20,000
b. $30,000
c. $50,000
d. $70,000

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Accounting Basics: 1 in 2014 james invested 30000 in a cattle - feeding

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: 1 in 2014 james invested 30000 in a cattle - feeding

Reference No:- TGS0640983

Have a Question? (oR Write a Review)

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: 1 in 2014 james invested 30000 in a cattle - feeding

Reference No:- TGS0640983

Recent Questions Asked Accounting Basics

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