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4.4.9. Barry is a lawyer. He owns 10 apartment buitelings that are managed by his brother's real estate business. At the end of the year,
4.4.9. Barry is a lawyer. He owns 10 apartment buitelings that are managed by his brother's real estate business. At the end of the year, the apartment buildings resulted in a $40,000 loss. Barry earned $80,000 in wages. His wife, Claire, earned $20,000 from her part-time job. Their other income included $5,000 in dividends from their mutual funds. They had no other income. How much of the rental loss can Barry use assuming Barry actively participates in the apartment buildings? A. $0 B. $25,000 C. $40,000 D. None of the answers are correct
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