Question
in california : An individual taxpayer has only one passive activity, rental real estate. The taxpayer has a loss from this activity in the current
in california: An individual taxpayer has only one passive activity, rental real estate. The taxpayer has a loss from this activity in the current year, but cannot deduct it on the current year tax return. What handling is appropriate for unallowed losses of this type?
A. Carried back two (2) years and then carried forward twenty (20) years
B. Carried back two (2) years and then carried forward indefinitely
C. Carried forward indefinitely, but not back
D. Carried forward fifteen (15) years
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
