In 2016, Mark purchased two separate activities. Information regarding these activities for 2016 and 2017 is as

Question:

In 2016, Mark purchased two separate activities. Information regarding these activities for 2016 and 2017 is as follows:

2016 Status 2017 Status Income (Loss) Income (Loss) Activity Activity ($24,000) ( 8,000) Active $10,000 20,000 Passive P

The 2016 losses were suspended losses for that year. During 2017, Mark also reports salary income of $120,000 and interest and dividend income of $20,000. Compute the amount (if any) of losses attributable to Activities A and B that are deductible in 2017 and any suspended losses carried to 2018.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...