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In 2018, Joan invests $125,000 for a 25% partnership interest in an activity in which...

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Accounting

In 2018, Joan invests $125,000 for a 25% partnership interest in an activity in which she is a material participant. The partnership reports losses of $300,000 in 2018 and $300,000 in 2019. Joans share of the partnerships losses is $75,000 in 2018 and $75,000 in 2019. How much of the losses from the partnership can Joan deduct in 2018 and in 2019? (List amount for each year separately.)

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