Question -
John-Bob was at risk for $25,000 in Partnership X and $20,000 in Partnership Z on January 1, 2010. Both partnerships are passive activities to John-Bob (these are John-Bob's only passive activities). John-Bob's share of net income from Partnership X during 2010 was $20,000. John-Bob's share of losses from Partnership Z during 2010 was $60,000. How much is John-Bob at risk for Partnership Z on January 1, 2011?
a. $60,000
b. $40,000
c. $20,000
d. $0
Refer to the facts in the previous question. What is John-Bob's carryover under the at-risk rules for Partnership Z in 2010?
a. $60,000
b. $40,000
c. $20,000
d. $0
Refer to the facts in the previous question. What is John-Bob's suspended loss under the passive loss rules for Partnership Z in 2010?
a. $60,000
b. $40,000
c. $20,000
d. $0