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In 2020, Howard is married and files a joint return. He operates a sole proprietorship in which he materially participates. His proprietorship generates gross income
In 2020, Howard is married and files a joint return. He operates a sole proprietorship in which he materially participates. His proprietorship generates gross income of $210,000 and deductions of $580,000. What is Howard's excess business loss for the year?
$370,000
$111,000
$148,000
None of these answers are correct
$0
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