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Alice has the following items in this year. Her AGI before any items below is 0. Alice has the tax-basis in her Alice in
Alice has the following items in this year. Her AGI before any items below is 0. Alice has the tax-basis in her Alice in the Wonderland LLC of $60k. Alice in the Wonderland LLC has a loss and Alice's share of the loss is $80k. Alice does not actively work for the LLC. Alice invests in stock and has a $2k long-term capital gain and $3k of short-term capital gain. Alice has a small online shop which she very rarely manages. Most work is done by a manager and Alice's only job is to collect money from the store. The business generates $10k income Alice has a spare home in Honolulu which she rents out on Airbnb. The Airbnb rental business has a bad year with a $12k loss. Alice's main job is being the managing director at Alice-a Keys LLC, a company specializing in producing R&B music tracks. Alice is also the sole owner of the LLC. In this year, the company generates $25k How much loss from the business activities can Alice deduct in this year? How much of the loss is carried forward (report loss carried forward separately)? Show step-by-step calculation and explanation.
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