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Keith owns three partnership interests that are passive activities. He sells Partnership 3 and realizes a loss of $8,000. His income is: Form W2 wages
Keith owns three partnership interests that are passive activities. He sells Partnership 3 and realizes a loss of $8,000. His income is:
Form W2 wages $30,000
Schedule C proprietorship 20,000
Partnership 1 5,000
Partnership 2 2,000
Partnership 2 loss carryforward 3,000
Partnership 3 loss on sale 8,000
What is Keiths total income?
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