Hi, I have the answers, but I don't understand how to get the
answers. Please explain thoroughly.
Bob earns ($25,000) in passive losses from BHI partnership. He
has an outside basis of $40,000 of which $30,000 comes from
non-recourse debt, and he has passive income of $50,000.
What are the tax consequences to Bob? $10,000 deductible
loss
What basis does Bob take in his partnership interest?
$15,000
How much is Bob at-risk after the allocation? 0
How much, if any...