Question
1. Amanda owns several rental houses and performs all management functions. Amanda uses a handyman to perform maintenance and repairs. Her AGI for the year
1. Amanda owns several rental houses and performs all management functions. Amanda uses a handyman to perform maintenance and repairs. Her AGI for the year is $130,000. The rental house activity has a loss of $15,000 for the year. Amanda has no passive income and is not a real estate professional. How much of the rental house loss can Amanda deduct for the tax year?
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Financial Accounting International Financial Reporting Standards Global Edition
Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison
11th Edition
9781292211145
