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only one attempt left, please get the right answer. thanks The Taxpayer had the following tranactions in 2020 Paid $10,000 for a 10% share in
only one attempt left, please get the right answer.
thanks
The Taxpayer had the following tranactions in 2020 Paid $10,000 for a 10% share in XYZ LLC, which he did not materially participate in XYZ LLC incurred a $150,000 loss in 2020 The Taxpayer had $8,000 of profits allocated to him from a different passive investment in 2020 which has never incurred a loss in any taxable year How much passive activity loss is disallowed and carried forward to 2021? O $5,000 O $10,000 O $2,000 O None of the aboveStep by Step Solution
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