Katrina is the sole owner of rental real estate that produces a net loss of $18,000 in
Question:
a. What is Katrina's adjusted gross income for 2015, 2016, and 2017 if she qualifies as a real estate professional?
b. What is Katrina's adjusted gross income for 2015, 2016, and 2017 if she actively participates in the rental activity?
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a As a real estate professional the rental activity is not passive and Katrina can deduct the 2015 a...View the full answer
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Related Book For 
Concepts In Federal Taxation 2017
ISBN: 9781305965119
24th Edition
Authors: Kevin E. Murphy, Mark Higgins
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