Question
Rhonda has an adjusted basis and an at-risk amount of $26,800 in a passive activity at the beginning of the year. She also has a
Rhonda has an adjusted basis and an at-risk amount of $26,800 in a passive activity at the beginning of the year. She also has a suspended passive activity loss of $5,360 carried over from the prior year. During the current year, she has a loss of $42,880 from the passive activity. Rhonda has no passive activity income from other sources this year. Determine the following items relating to Rhonda's passive activity as of the end of the year.
If an amount is zero, enter "0".
At year-end, Rhonda has the following:
a. Adjusted basis in the passive activity: $fill in the blank 1.
b. Loss suspended under the at-risk rules: $fill in the blank 2.
c. Suspended passive activity loss: $fill in the blank 3.
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