How much of the loss may ralph recognize, Accounting Basics

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How much of the loss may ralph recognize

PIB Partnership is owned 20% by Shore, 40% by Steve, and 40% by Thann. Burnham, Inc. is owned 70% by PIB Partnership, 10% by Ralph, 10% by Thann, and 10% by Shore. Ralph and Thann are brothers. All other individuals are unrelated. During the current year, Ralph sold a piece of land to Burnham, Inc. for $90,000. Ralph originally purchased the land as an investment a few years ago for $100,000. How much of the loss may Ralph recognize?

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Accounting Basics: How much of the loss may ralph recognize

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