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Lucy has AGl of $125,000 before considering losses from some rental real estate she owns (she actively participates). She had the following losses from her
Lucy has AGl of $125,000 before considering losses from some rental real estate she owns (she actively participates). She had the following losses from her rental property: RentalpropertyRentalproperty(26,6)(10,60) Required: a. How much of the losses can Lucy deduct? b. If Lucy's AGI before the losses was $90,000, how much of the losses can she deduct? Complete this question by entering your answers in the tabs below. How much of the losses can Lucy deduct? Note: Do not round intermediate calculations and round your final answers to nearest whole dollar amount. Lucy has AGI of $125,000 before considering losses from some rental real estate she owns (she actively participates). She had the following losses from her rental property: RentalpropertyRentalproperty(26,000)(10,600) Requlred: a. How much of the losses can Lucy deduct? b. If Lucy's AGI before the losses was $90,000, how much of the losses can she deduct? Complete this question by entering your answers in the tabs below. If Lucy's AGI before the losses was $90,000, how much of the losses can she deduct? Note: Do not round intermediate calculations and round your final answers to nearest whole dollar amount
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