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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 income to
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)? Question 8 Refer to the problem immediately above for Melissa Roberts. What is the total amount of her suspended passive activity losses ? Which of the following are deductions ? a) Unreimbursed classroom expenses of a high school teacher b) Mutual fund shares donated to the Episcopal Church c) After -tax medical expenses in excess of 7.5 % of AGI Contribution to a traditional IRA d) Half of the self -employment tax for a self - employed person f) Student loan interest
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