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Please show all calculations. 14. Shunwei reports the following income and loss: Salary Income from activity A Loss from activity B Loss from activity C
Please show all calculations.
14. Shunwei reports the following income and loss: Salary Income from activity A Loss from activity B Loss from activity C $ 100,000 50,000 (20,000) ( 40,000) Activities A, B, and C are all passive activities. (FREE BEE) Based on this information, Chunwei has A) adjusted gross income of $90,000 B) salary of $100.000 and deductible net losses of $10,000 C) salary of $100.000 and net passive income of $50,000 D) salary of $100,000, passive income of $50,000, and passive loss carryovers of $60,000Step by Step Solution
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