In 2012 lillian invests 150000 for a 40 partnership, Ask an Expert

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In 2012, Lillian invests $150,000 for a 40% partnership interest in an activity in which she is a material participant. The partnership reports losses of $200,000 in 2012 and $200,000 in 2013. Lillian's share of the partnership losses is $80,000 in 2012 and $80,000 in 2013. How much of the losses from the partnership can Lillian deduct?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940719

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