Question
Anwar owns a rental home and is involved in maintaining it and approving renters. During the year he has a net loss of $14,200 from
Anwar owns a rental home and is involved in maintaining it and approving renters. During the year he has a net loss of $14,200 from renting the home. His other sources of income during the year were a salary of $103,000 and $38,900 of long-term capital gains. How much of Anwars $14,200 rental loss can he deduct currently if he has no sources of passive income?
Which is the DEDCUTIBLE RENTAL LOSS?
THE ANSWER IS NOT 11700 OR 11150
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren
1st Extended Canadian Edition
1118878418, 9781118878415
