Question

Arnold purchased interests in two limited partnerships 6 years ago. During 2018, Arnold had income of $22,000 from one of the partnerships. He had a loss from the other partnership of $32,000, salary income of $35,000, and dividend income of $2,000. What is the amount of net passive losses that Arnold may deduct for 2018?

Answer 1

Answer:None

Step-by-step explanation:

He will get a net passive Income of$27000..

$ 22,000--- $32,000+ $35000+$2000.