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1:9-45 Passive Losses. In 2019, Mark purchased two separate activities. Information regarding these activities for 2019 and 2020 is as follows: 2019 2020 Activity
1:9-45 Passive Losses. In 2019, Mark purchased two separate activities. Information regarding these activities for 2019 and 2020 is as follows: 2019 2020 Activity Status Income (Loss) Activity Status Income (Loss) A Passive ($24,000) A Active $10,000 B Passive ( 8,000) B Passive 20,000 The 2019 losses were suspended losses for that year. During 2020, Mark also reports salary income of $120,000 and interest and dividend income of $20,000. Compute the amount (if any) of losses attributable to Activities A and B that are deductible in 2020 and any suspended losses carried to 2021.
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