Question
In the current tax year for regular tax purposes, Avery reports $65,000 of income and $190,000 of deductions from passive activities. For AMT purposes, the
In the current tax year for regular tax purposes, Avery reports $65,000 of income and $190,000 of deductions from passive activities. For AMT purposes, the passive activity income amount is unchanged, but deductions from passive activities total $150,000.
What is Avery's suspended passive loss for regular tax and for AMT purposes?
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Management Accounting
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
7th Edition
978-1760421144, 1760421146
