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How much of the loss may be deducted against active and

Leslie Ann owned an interest in several limited partnerships in 2016. Gains and losses passed through to Leslie are as follows.

Partnership	Date Acquired	Allocated Gain (Loss)
O & G 1	3/26/84	$12,000
O & G 2	5/19/86	(30,000)
O & G 3	11/13/88	( 5,000)
O & G 4	1/08/89	( 6,000)
O & G 5	7/11/90	20,000

(a) What is Leslie's net passive loss for 2016?

(b) How much of the loss may be deducted against active and portfolio income?

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Accounting Basics: How much of the loss may be deducted against active and

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