Arnold purchased interests in two limited partnerships 6 years ago.During 2013,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 2013?
A) $0
B) $800
C) $1,000
D) $8,000
E) None of the above
Correct Answer:
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