In 2016, Kirsten invested $20,000 for a 10% partnership interest (not a passive activity). The...
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In 2016, Kirsten invested $20,000 for a 10% partnership interest (not a passive activity). The partnership has losses of $150,000 in 2016 and $250,000 in 2017. Kirstens share of the partnerships losses is $15,000 in 2016 and $25,000 in 2017. How much of the losses from the partnership can Kirsten deduct?
a..$20,000 in 2016 and $0 in 2017.
b..$0 in 2016 and $0 in 2017.
c..$15,000 in 2016 and $5,000 in 2017.
d..$15,000 in 2016 and $25,000 in 2017.
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