Mario, Who Is Married Filing a Joint Return, Is Allocated

Multiple Choice

Mario, who is married filing a joint return, is allocated $510,000 of income and $788,000 of deductions from Perez General Partnership resulting in a $278,000 loss allocated to him for 2019.Mario's basis in the partnership is $300,000.How much of this loss must Mario carry forward to 2020?

A) $278,000
B) $250,000
C) $28,000
D) 0