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if the answer is 20,000 what are 2-5 if possibke 1) Joe Taxpayer is single and has wages of $110,000, and the following losses from

if the answer is 20,000 what are 2-5 if possibke
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1) Joe Taxpayer is single and has wages of $110,000, and the following losses from rental properties. a. $(20,000) b. $(30,000) c. $(50,000) What are the allowed losses and unallowed losses by property for federal purposes? 2) If Joe were married, and his spouse had no income, would your answer change? 3) In number 1 above, would your answer change for California? If so, how? 4) In number 1 above, would your answer change if Joe was a real estate professional? 5) In number 1, above, would your answer change for California if Joe was a real estate professional

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