How much can he deduct in each year


In 2007, Fred invested $50,000 in a general partnership.Fred's interest is not considered to be a passive activity.If his share of the partnership losses is $35,000 in 2007 and$25,000 in 2008, how much can he deduct in each year?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: How much can he deduct in each year
Reference No:- TGS0722705

Expected delivery within 24 Hours