Question
At the beginning of the year, Amber has a carryover of unused losses in the amount of $1,250 under the at-risk rules and $2,000
At the beginning of the year, Amber has a carryover of unused losses in the amount of $1,250 under the at-risk rules and $2,000 under the passive loss rules. In the current year, Amber has no gain or loss from her passive activity, however she contributes $6,000 to the passive activity. She has no other passive income for the year. If an amount is zero, enter "0". AL year-end, Amber has the following: Adjusted basis and an at-risk amount in the passive activity: Suspended losses under the at-risk rules: Suspended passive losses:
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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