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Author Question: Justin has AGI of $110,000 before considering his $30,000 loss from rental property, which he ... (Read 29 times)

Hungry!

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Question 1

Joy reports the following income and loss:



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









Question 2

Justin has AGI of $110,000 before considering his $30,000 loss from rental property, which he actively manages. How much of the rental loss can Justin deduct this year?
◦ $10,000
◦ $20,000
◦ $25,000
◦ $30,000


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Marked as best answer by Hungry! on Sep 13, 2020

Dominic

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Hungry!

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Reply 2 on: Sep 13, 2020
Excellent


alvinum

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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