LO.3 Freda acquired a passive activity in 2012 for $870,000. Gross income from operations of the activity
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LO.3 Freda acquired a passive activity in 2012 for $870,000. Gross income from operations of the activity was $160,000. Operating expenses, not including depreciation, were
$122,000. Regular income tax depreciation of $49,750 was computed under MACRS.
AMT depreciation, computed under ADS, was $41,000. Compute Freda’s passive loss deduction and passive loss suspended for regular income tax purposes and for AMT purposes.
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Related Book For 
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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