Question - Paul has come to you seeking guidance. In 2000 he invested $10,000 as a slient partner (never a material participant) in b business venture. His share of the income wass ($4,000), in 2001 it was ($9,000), and in 2002 it was $1,000. Paul invested $5,000 in 2003. His share of income in 2003 was ($3,000), but in 2004 it was $5,000, and in 2005 it was $2,000.
Required: Where does Paul stand with regard to passive loss, and at risk loss, or any passive supspended loss or at risk suspended loss. Explain the year by year treatment.