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In 2017, Paul purchased two separate activities. Information regarding these activities for 2017 and 2018 is as follows: EE (Click the icon to view the
In 2017, Paul purchased two separate activities. Information regarding these activities for 2017 and 2018 is as follows: EE (Click the icon to view the data.) The 2017 losses were suspended losses for that year. During 2018, Paul also reports salary income of $135,000 and interest and dividend income of $23,000. Requirement Compute the amount (if any) of losses attributable to Activities A and B that are deductible in 2018 and any suspended losses carried to 2019 Data Table 2017 2018 ActivitySts Income (Loss)Atit Status Income (Loss) A Passive (26,000) A tve B Passive 12,000 21,000 (14,000) B Passive Deductible losses attributable to activities A and B in 2018 Suspended losses carried over to 2019 In 2017, Paul purchased two separate activities. Information regarding these activities for 2017 and 2018 is as follows: EE (Click the icon to view the data.) The 2017 losses were suspended losses for that year. During 2018, Paul also reports salary income of $135,000 and interest and dividend income of $23,000. Requirement Compute the amount (if any) of losses attributable to Activities A and B that are deductible in 2018 and any suspended losses carried to 2019 Data Table 2017 2018 ActivitySts Income (Loss)Atit Status Income (Loss) A Passive (26,000) A tve B Passive 12,000 21,000 (14,000) B Passive Deductible losses attributable to activities A and B in 2018 Suspended losses carried over to 2019
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