Clifford Johnson has a limited partnership investment and a rental condominium. Clifford actively manages the rental condominium.
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Clifford Johnson has a limited partnership investment and a rental condominium.
Clifford actively manages the rental condominium. During 2019, his share of the loss from the limited partnership was $11,000, and his loss from the rental condo was $17,000.
Assuming Clifford’s modified adjusted gross income is $124,000 for 2019, and he has no prior year unallowed losses from either activity, complete Form 8582 on Page 4-58.
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Related Book For
Income Tax Fundamentals Whittenburg Gill 2020
ISBN: 9780357107065
1st Edition
Authors: Whittenburg/Altus Buller/Gill
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