Dave Eichoff had adjusted gross income for 2018 of ($ 122,000) before any passive losses or other
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Dave Eichoff had adjusted gross income for 2018 of \(\$ 122,000\) before any passive losses or other rental activities. He owned a mountain cabin in Idaho, which he rented for 125 days and which was not used by him at all during the year. The property will experience a net loss of \(\$ 12,500\). He also had a limited partnership interest that was purchased in 1985 and yielded a loss of \(\$ 22,000\). What is Dave's adjusted gross income after considering the passive activity and rental losses?
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Related Book For 
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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