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Philip is a single taxpayer with modified agi of $135,000 and an active participation rental real estate loss of $30,000. Assuming he has no other

Philip is a single taxpayer with modified agi of $135,000 and an active participation rental real estate loss of $30,000. Assuming he has no other source of passive income, what is his adjusted special loss allowance? 0; 5,000; 7,500; 25,000.

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