At the beginning of 2019, Taxpayer A had $30,000 of losses disallowed due to the at risk limitation in Investment ABC and $40,000 of passive losses disallowed in investment ABC. During 2019, Investment ABC reported income of $60,000 Allocated to Taxpayer A. Taxpayer A also had wages from employment of $100,000 in 2019 and $30,000 of itemized deductions. What is Taxpayer A's AGI for 2019? Question.

$100,000

$90,000

$70,000

$120,000

$60,000

During 2020, you created a new LLC and incurred the following expenses in connection with the start up of this new entity: $45,000 of legal and professional fees $7,000 of due dilligence expenses The new LLC officially started business on 7/1/2020. For the tax year ended 12/31/2020, the tax deduction for start up expenses is

$52,000

$3,000

$4,633

$57,777