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Old 04-01-2008, 06:10 PM
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Are there limitations on the amount of losses I can deduct from my partnership?

Are there limitations on the amount of losses I can deduct from my partnership?

My partnership has lost a lot of money in 2007 and I was wondering if I can deduct all of these losses on my personal tax return without any restrictions or limitations.

Are there any such IRS restrictions or rules that will prevent me from claiming these losses altogether on my personal tax return?

Any help would be appreciated!

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