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A taxpayer reports the following income and losses from these passive activities: Activity Income or Loss A) $(40,000) B) $(10,000) C) $20,000 The suspended (carryover)
A taxpayer reports the following income and losses from these passive activities: Activity Income or Loss A) $(40,000) B) $(10,000) C) $20,000 The suspended (carryover) loss for activity A is: 1)$0 2)$40,000 3)$24,000 4)$16,000 5)none of the above
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