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7 Question 7 (1 point) Melissa Roberts is an investor in 2 limited partnerships. She does not participate in either one. Partnership A passes out
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Question 7 (1 point) Melissa Roberts is an investor in 2 limited partnerships. She does not participate in either one. Partnership A passes out $4,000 of ordinary income to her and $300 of interest income. Partnership B passes out $5,000 of ordinary loss to her. In addition, Melissa owns and operates a two-unit rental that generates $7,000 of loss. Melissa income from sources other than mentioned above is $140,000. What is Melissa's Adjusted Gross Income (AGI)? DO NOT USE COMMAS OR DOLLAR SIGNS IN YOUR ANSWER!!! SEE CHAPTER 11 HANDOUT ILLUSTRATIVE EXAMPLES AND THE TAX RETURN AND SOLUTION IN THE HANDOUT FOR SALLIE JONES. A/ Step by Step Solution
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