perry is a partner in a calendar year partnership. his schedule k-1 for the current tax year showed the following: ordinary business loss$ (20,000) short-term capital gain2,100 dividend income1,600 cash distribution5,800 perry's tax basis in his partnership interest at the beginning of the year was $15,400. how much of the ordinary loss may he deduct on his form 1040? assume the excess business loss limitation does not apply.
