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  3. . kanga is a 10% partner in roo, ltd. his basis in

. Kanga is a 10% partner in Roo, Ltd. His basis in the interest is...

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Accounting

. Kanga is a 10% partner in Roo, Ltd. His basis in the interest is $60,000 before loss allocations, including his $30,000 share of the partnership's nonrecourse debt (it is not qualified nonrecourse financing). He also is a 10% limited partner in IHOP, in which his basis is $30,000. Kanga is allocated an $80,000 loss from Roo and $20,000 of income from IHOP.

How much of the Roo loss may Kanga deduct?

DEDUCTIBLE SUSPENDED

LOSS LOSS

Under what Code provisions are the remaining losses suspended?

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