Danni is a single 30 percent owner of Kolt (a business entity). In the current year, Kolt reported a $1,000,000 business

[answerhappygod]

Danni is a single 30 percent owner of Kolt (a business entity).
In the current year, Kolt reported a $1,000,000 business loss.
Answer the following questions associated with each of the
following alternative scenarios:

b. Kolt is organized as an LLC taxed as a
partnership. Thirty percent of Kolt’s loss is allocated to Danni.
Danni works 20 hours a week on Kolt business activities (she is not
considered to be a passive investor in Kolt). Danni has a $400,000
basis in her Kolt ownership interest, and she also has a $400,000
at-risk amount in her investment in Kolt. Danni does not report
income or loss from any other business activity investments. How
much of the $300,000 loss allocated to her from Kolt is Danni
allowed to deduct this year?

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