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Jack and Melissa are married, and they will file a joint return. Their modified adjusted gross income for the year is $185,000. They have an
Jack and Melissa are married, and they will file a joint return. Their modified adjusted gross income for the year is $185,000.
They have an active participation rental real estate loss of $32,000. If they do not participate in any other passive activity, what is their adjusted special loss allowance for the year?
- so
- $7,000
- $25,000
- $32,000
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