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9 Curly manages all the affairs of a rental real estate business that he owns. In 2015, his share of the losses amounted to $40,000.

9 Curly manages all the affairs of a rental real estate business that he owns. In 2015, his share of the losses amounted to $40,000. Curly and his wife expect to have an AGI about $80,000. How much of the losses are deductible on their 2015 income tax return? $40,000 $3,000 $25,000 None

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