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Melissa Roberts is an investor in 2 limited partnerships . She does not participate in either one. Partnership A passes out $ 4,000 of ordinary
Melissa Roberts is an investor in 2 limited partnerships . She does not participate in either one. Partnership A passes out $ 4,000 of ordinary income to her and $300 of interest income. Partnership B passes out $5,000 of ordinary loss to her. In addition , Melissa owns and operates a two-unit rental that generates $7,000 of loss. Melissa income from sources other than mentioned above is $140,000. What is Melissa's Adjusted Gross Income (AGI)?
Refer to the problem immediately above for Melissa Roberts. What is the total amount of her suspended passive activity losses (THE AMOUNT THAT COULDN'T BE TAKEN IN THE CURRENT YEAR)?
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