(Answered) Question - in 2011 jean earns a salary of 150000 and

Accounting

Question - In 2011, Jean earns a salary of $150,000 and invests $20,000 for a 20% interest in a partnership not subject to the passive loss rules. Through the use of $400,000 of nonrecourse financing, the partnership acquires assets worth $500,000. The activity produces a loss of $75,000, of which Jean's share is $15,000. In 2011, Jean's share of the loss from the partnership is $7,500. How much of the loss from the partnership can Jean deduct?

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