How much of the lp loss will be currently deductible will


Russ has a loss from a Limited Partnership of ($5,000) flowing thru to him. In addition, he owns a small restaurant which produced income of $3,500, however, he does not materially participate in the restaurant as his sister works for him and runs the operation. Compute Russ’s passive income for the year. How much of the LP loss will be currently deductible? Will any of it be suspended? Is your answer different if Russ did materially participate in the restaurant?

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Financial Management: How much of the lp loss will be currently deductible will
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