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[5] Miss Jones owns several rental properties, which she acquired in January of last year, and actively participates in all activities connected with the rentals.
[5] Miss Jones owns several rental properties, which she acquired in January of last year, and actively participates in all activities connected with the rentals. She received a salary of $42,300 from her advertising job in the current year. Her net rental loss for the current year was $60,000. What is the amount of rental loss that Miss Jones can deduct in the current year? A. $42,300 B. $60,000 C. 50 D. $25,000
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