Question
John who has $62,000 of AGI before considering rental activities, has $70,000 of losses from a real estate rental activity in which he actively participates.
John who has $62,000 of AGI before considering rental activities, has $70,000 of losses from a real estate rental activity in which he actively participates. He also actively participates in another real estate rental activity from which he has $33,000 of income. He has other passive income of $20,000. What amount of rental loss can be used to offset active or portfolio income?
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Business Law Legal Environment Online Commerce Business Ethics and International Issues
Authors: Henry R. Cheeseman
9th edition
978-0134529530, 134004000, 134529537, 978-0134004006
