In 2016,Kipp invested $65,000 for a 30% interest in a partnership conducting a passive activity.The partnership reported losses of $200,000 in 2016 and $100,000 in 2017,Kipp's share being $60,000 in 2016 and $30,000 in 2017.How much of the losses from the partnership can Kipp deduct assuming he owns no other investments and does not participate in the partnership's operations?

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The Answer of In 2016,Kipp invested $65,000 for a 30% interest in a partnership conducting a passive activity.The partnership reported losses of $200,000 in 2016 and $100,000 in 2017,Kipp's share being $60,000 in 2016 and $30,000 in 2017.How much of the losses from the partnership can Kipp deduct assuming he owns no other investments and does not participate in the partnership's operations?

In 2016,Kipp Invested $65,000 for a 30% Interest in a Partnership