During 2020, Blake Robson acquires an interest in a real estate limited partnership for $235,000, consisting of a cash payment of $62,000 along with the assumption of a loan of $173,000. The loan is payable in six years. The general partner has agreed to purchase Blake's interest at any time, returning his $62,000 payment and assuming full responsibility for the loan, without regard to the current value of the interest. For 2020, the limited partnership has allocated losses of $81,400 to Blake. How much of this loss is Blake entitled to claim as a deduction on his 2020 tax return? What is the amount of his limited partnership loss at the end of 2020?

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The Answer of During 2020, Blake Robson acquires an interest in a real estate limited partnership for $235,000, consisting of a cash payment of $62,000 along with the assumption of a loan of $173,000. The loan is payable in six years. The general partner has agreed to purchase Blake's interest at any time, returning his $62,000 payment and assuming full responsibility for the loan, without regard to the current value of the interest. For 2020, the limited partnership has allocated losses of $81,400 to Blake. How much of this loss is Blake entitled to claim as a deduction on his 2020 tax return? What is the amount of his limited partnership loss at the end of 2020?

During 2020, Blake Robson Acquires an Interest in a Real