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Morty (single individual) owns an apartment house in which he actively participates. In 2020, the apartment house generated a net loss of $(13,000). Morty's AGI
Morty (single individual) owns an apartment house in which he actively participates. In 2020, the apartment house generated a net loss of $(13,000). Morty's AGI not including the rental property is $138,000. How much rental loss (if any) can Morty deduct on his 2020 tax return. SHOW YOUR COMPUTATIONS TO GET FULL CREDIT!
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