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1) Joe Taxpayer is single and has wages of $110,000, and the following losses from rental properties. a. $(20,000) b. $(30,000) c. $(50,000) What are
1) Joe Taxpayer is single and has wages of $110,000, and the following losses from rental properties. a. $(20,000) b. $(30,000) c. $(50,000) What are the allowed losses and unallowed losses by property for federal purposes? If Joe were married, and his spouse had no income, would your answer change?
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