Question
Disney reported the following information related to his ownership in pass through entities for 2020. Pass-through Entity Participation At-Risk Beginning of 2020 2020 Share of
Disney reported the following information related to his ownership in pass through entities for 2020.
Pass-through Entity | Participation | At-Risk Beginning of 2020 | 2020 Share of Income/(Loss) |
Grumpy LP | Passive | 46,000 | (76,000) |
Sleepy LP | Passive | 21,000 | 6,000 |
Bashful LP | Active | 50,000 | (56,000) |
Happy LP | Passive | 131,000 | 32,000 |
Calculate Disney’s AGI (showing your work). What is the amount of any suspended loss and why is it suspended?
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AGIie Adjusted gross income used yo calculate individuals tax liablity Nondeductible ...
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
