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In the current year, Lucile, who is single and has AGI of $90,000 before considering rental (2pts) activities, is active in three separate real
In the current year, Lucile, who is single and has AGI of $90,000 before considering rental (2pts) activities, is active in three separate real estate rental activities and is in the 22% tax bracket. She had $15,000 of losses from Activity A, $25,000 of losses from Activity B, and income of $20,000 from Activity C. She also had $3,100 of tax credits from Activity A. Calculate her deductions and credits currently allowed and the suspended losses and credits.
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