Examlex
In 2010,Kipp invested $65,000 for a 30% interest in a partnership conducting a passive activity.The partnership reported losses of $200,000 in 2010 and $100,000 in 2011,Kipp's share being $60,000 in 2010 and $30,000 in 2011.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?
Acid-Test Ratio
A liquidity ratio that measures a company's ability to pay off its current liabilities with quick assets (cash, marketable securities, and accounts receivable).
Financial Data
Quantitative information about a company's financial position, performance, and cash flow, used for analysis and decision-making.
Acid-Test Ratio
A liquidity ratio that measures a company's ability to pay off its current liabilities with its most liquid assets without having to sell inventory.
Financial Data
Quantitative information about financial conditions, transactions, and performance of a person, company, or entity.
Q11: Rachel acquired a passive activity several years
Q19: Jack owns a 10% interest in a
Q23: Cardinal Corporation hires two persons certified to
Q36: Ron and Tom are equal owners in
Q40: If the cost of a building constructed
Q68: Kim dies owning a passive activity with
Q98: In some cases it may be appropriate
Q148: An exchange of business or investment property
Q158: A condemned office building owned and used
Q168: Elvis owns all of the stock of