Assume that in 2023 Manny invested $10,000 in an additional passive activity, Categorical, LLC. Categorial generated...
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Assume that in 2023 Manny invested $10,000 in an additional passive activity, Categorical, LLC. Categorial generated Profits of $40,000 in 2023. Everything else is as before. Required: Using the information from the previous part, and information above, what amount taxable income/(loss) will Manny recognize from his investment in these activities for 2023? Assume that in 2023 Manny invested $10,000 in an additional passive activity, Categorical, LLC. Categorial generated Profits of $40,000 in 2023. Everything else is as before. Required: Using the information from the previous part, and information above, what amount taxable income/(loss) will Manny recognize from his investment in these activities for 2023?
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