Shanna Is a Partner in the Fern Partnership, Which Is

question 2

Multiple Choice

Shanna is a partner in the Fern Partnership, which is not publicly traded.Her allocable share of Fern's passive ordinary losses from a nonrealty activity for the current year is ($200,000) .Shanna has a $140,000 adjusted basis (outside basis) for her interest in Fern (before deduction of any of the passive losses) .Her amount "at risk" under § 465 is $110,000 (before deduction of any of the passive losses) .She also has $75,000 of passive income from other sources.How much of the $200,000 passive loss allocated to her can Shanna deduct on her current year's tax return?

• A)$75,000
• B)$110,000.
• C)$140,000.
• D)$200,000.
• E)None of the above.

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Definitions:

Postmodernist

An approach that critiques modernist views of society, emphasizing the subjective nature of reality and the role of culture, power, and identity.

Cultural Capital

The non-material social assets (knowledge, education, language skills, etc.) that can help an individual gain advantage in society.

Educational Attainment

The highest level of education an individual has completed, which can influence one's socioeconomic status and employment opportunities.

Economic Obstacles

Factors or barriers that hinder the efficient operation of an economy, affecting growth, development, and the ability of individuals to engage in economic activities.