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The partnership profit & loss percentage does not have to agree to the partnership ownership percentages.
That's about all I can say; I have no idea what your operations consist of, whether the $150,000. is currently deductible, and even more important, do you have sufficient tax basis in your partnership interest to absorb the loss?
For example, let's say you started the partnership with 200K (30K, 30K, 140K).
Now you get an allocation from the partnership return on your form K-1 of an ordinary loss of 50K. How much can you deduct? $30K, ie. to extent of your investment in the partnership; that is a simplified example; other transactions can enter into the computations; but basically that's way beyond the scope of this forum.
Oh, and if you're operating as an S-Corp all this applies the same exact way.
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Edited by Stephen E. Grizey, CPA on 4/1/2010 at 11:02 PM EST