Question
Evelyn has rental income of $47,500 and passive income of $16,750. She also has $142,500 of losses from a real estate rental activity in which
Evelyn has rental income of $47,500 and passive income of $16,750. She also has $142,500 of losses from a real estate rental activity in which she actively participates. Evelyns AGI is $94,000 before considering this activity. How much rental loss can she deduct against other income sources without regard to the at-risk rules?
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Accounting A Smart Approach
Authors: Mary Carey, Jane Towers Clark, Cathy Knowles
1st Edition
0199587418, 978-0199587414
