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In 2022, Sylvia, a single individual, reported the following items of income and deduction: View the standard deduction amounts View the items of income and
In 2022, Sylvia, a single individual, reported the following items of income and deduction: View the standard deduction amounts View the items of income and deduction. Requirement Sylvia owns 100% and is an active participant in the rental real estate activity. What is her taxable income for 2022? Begin by determining whether Sylvia is entitled to a deduction for rental real estate activities. (Enter "0" if Sylvia is not eligible for the deduction.) The deduction for rental real estate losses is Now determine the taxable income for 2022. Begin by calculating the adjusted gross income (AGI). Adjusted gross income (AGI) Now calculate the itemized deductions
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