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For a limited partner, that amount is usually passive. The only way it can become nonpassive is if the limited partner materially participates in the partnership, which requires one or more elements.
See Treas. Reg. §1.469-5T
Be advised that when a limited partner materially participates in a partnership, that partner will lose the benefit of protection from personal liability for the debts of the partnership and claims against it.
July 23, 2019
9:24 AM