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Problem 7-62 (LO 7-4) (Algo) Anwer owns a rental home and is involved in maintaining it and approving renters. During the year he has
Problem 7-62 (LO 7-4) (Algo) Anwer owns a rental home and is involved in maintaining it and approving renters. During the year he has a net loss of $13,900 from renting the home. His other sources of income during the year are a salary of $113,000 and $23,500 of long-term capital gains. How much of Anwer's $13,900 rental loss can he deduct currently if he has no sources of passive income? Deductible rental loss
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