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i need help with line 6 Home A OSM MSA Repair Service Wilshere Op Gleim Personal Cla Interest Rate on Ee Mobil Serv Landin Chapter
i need help with line 6
Home A OSM MSA Repair Service Wilshere Op Gleim Personal Cla Interest Rate on Ee Mobil Serv Landin Chapter 11 Homework (Application) eBook Exercise 11-31 (Algorithmic) (LOS) Noah Yobs, who has 559,800 of AG (solely from wages) before considering rental activities, has $53,820 of fosses from a real estate rental activity in which he actively participates. He also actively participates in another real estate rental activity from which he has $29,900 of income. He has other passive activity income of $19,136, a. What amount of rental loss can Noah use to offset active or portfolio income in the current year? 4,784 7 The partive activity loss mits contain two exceptions related to real estate activities. These actions allow all or part of real estate rental losses to offer active or portfolio income even though the activity therwis is defined as a passive activity . Compute Nole's Art on Form 1040 (pages 1 and 2 to complete Schedule from 040) for the current year. Uw the minut on to indicate Det the Treasure 1901 1040 U.S. Individual Income Tax Return Fang og Marting 2018 ON N. 1545-0074 Use Only Form 1040 (2018) Page 2 1 Wages, salaries, tips, etc. Attach Form(s) W-2 1 59,800 2a 2a b Taxable interest 2b 3a 3a Tax-exempt interest Qualified dividends 19A, pensions, and annuities Ordinary dividends 3b baxable amount Attach Forms) W- 2. Also attach Formis) W-26 and 1099-R tax was withheld 40 Sa 55 6 Social security benefits Sa bTaxable amount Total income. Add lines 1 through 5. Add any amount from Schedule I line 2 55,016 X 6 55,016 55,016 8 Adjusted gross income. If you have no adjustments to income, enter the amount from line 5; otherwise, subtract Schedule 1, 36, from line 0 Standard deduction or itemized deductions (from Schedule Al Qualthed business income deduction (see instructions) Table income Subtract lines and from 7. If nero or less, enter 0 - Standard Deduction for - Single or more Things 8 9 10 10 ht 1-95 10 Chapter 11 Homework (Application) eBook Additional 1-9b Reserved Income 10 Taxable refunds, credits, or offsets of state and local income taxes 11 Alimony received 12 Business income or loss). Attach Schedule Cor C-EZ 13 Capital gain or loss). Attach Schedule bit required. If not required, check here O 11 12 13 150 14 Other gains or losses). Attach Form 4797 15a Reserved 16a Reserved 17 Rental real estate, royalties, partnerships, corporations, trusts, etc. Attach Schedule 16h 17 -4,784 18 Farm income to Arach Schedule 19 205 21 19 Unemployment compensation 20a Reserved 25 Other income List type and amount 22 Combine the amounts in the tonight column. If you don't have any adjustments to income, enter here and include o rom 1010, line. Otherwise, o to line 33 Adjustments 23 urator expenses 2a to Income 24 Corta Duess expenses of reservats erforming art, and feel government othias Attach Form 106 246 22 4,784 Step by Step Solution
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