Mario, Who Is Married Filing a Joint Return, Is Allocated

question 50

Multiple Choice

Mario, who is married filing a joint return, is allocated $510,000 of income and $788,000 of deductions from Perez General Partnership resulting in a $278,000 loss allocated to him for 2018. Mario's basis in the partnership is $300,000. How much of this loss must Mario carry forward to 2019?

• A) $278,000
• B) $250,000
• C) $28,000
• D) 0

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