Question
During the current year, Diane disposes of Fine Foods Limited Partnership at a gain of $12,000. Diane's adjusted gross income from non-passive sources is $120,000.
During the current year, Diane disposes of Fine Foods Limited Partnership at a gain of $12,000. Diane's adjusted gross income from non-passive sources is $120,000. She has a suspended loss from Fine Foods of $22,000 and a loss from other passive activities of $4,500. What is the amount of Diane's adjusted gross income for the current year?
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Regulation Of Securities Markets And Transactions
Authors: Patrick S. Collins
1st Edition
0470601965, 978-0470601969
