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John Mapp dies with passive activity property having an adjusted basis of $50,000, suspended loss of $20,000, and a fair market value at the date
John Mapp dies with passive activity property having an adjusted basis of $50,000, suspended loss of $20,000, and a fair market value at the date of Mr. Mapp's death of $77,000. How much suspended loss can be taken on Mr. Mapp's final form 1040 return.
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