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Author Question: Jeff owned one passive activity. Jeff sold the activity and realized a $2,000 gain on the sale. ... (Read 44 times)

jrubin

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on: Sep 13, 2020

Question 1

Jana reports the following income and loss:



Activities A, B, and C are all passive activities.
Based on this information, Jana has the following suspended losses:
◦

◦

◦

◦


Question 2

Jeff owned one passive activity.  Jeff sold the activity and realized a $2,000 gain on the sale.  Prior to the sale, he realized a current year loss from the activity of $6,000.  In addition, he has suspended losses from prior years of $7,000.  What is the net impact on Jeff's AGI this year due to the passive activity?
◦ increase of $2,000
◦ no net change
◦ decrease of $4,000
◦ decrease of $11,000
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by jrubin on Sep 13, 2020

IRincones

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jrubin

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Reply 2 on: Sep 13, 2020
Wow, this really help

xiaomengxian

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Reply 3 on: Yesterday
Excellent

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