Question
Mom and Pop own a home they rent out to students at the local university. Their AGI before considering any income or loss from the
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Mom and Pop own a home they rent out to students at the local university. Their AGI before considering any income or loss from the rental property is $119,000. Their loss from the rental property for the current year is $25,642.
If Mom and Pop have no other sources of passive income, how much of the passive loss from the rental home can they deduct currently? If none, answer 0.
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Energy Audit And Management Concept Methodologies Procedures And Case Studies
Authors: L. Ashok Kumar, Gokul Ganesan
1st Edition
978-1032067797
