Question
19. Becky, an unmarried taxpayer, has $155,000 in salary, and a $26,000 passive loss from a real estate rental activity in which she actively participates.
19. Becky, an unmarried taxpayer, has $155,000 in salary, and a $26,000 passive loss from a real estate rental activity in which she actively participates. If her modified adjusted gross income is $120,000, how much of the $26,000 loss is deductible?
a.0
b.10000
c.15000
d.26000
e.None of the above
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Business Accounting An Introduction To Financial And Management Accounting
Authors: Jill Collis, Roger Hussey, Andrew Holt, Holt Collis, J. Collis
2nd Edition
0230276237, 978-0230276239
