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Christian, a single taxpayer, acquired a rental house in 2005. The rental house, which Christian actively manages, generated a $15,000 loss in 2018. In addition,
Christian, a single taxpayer, acquired a rental house in 2005. The rental house, which Christian actively manages, generated a $15,000 loss in 2018. In addition, Christian owns a limited partnership interest which he acquired in 2010. His share of the partnership loss for 2018 is $10,000. Christian has modified adjusted gross income, before the rental loss and partnership loss, of $134,000.
What is the amount of these losses that Christian may deduct in 2018?
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