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Roger owns rental houses (but is not a real estate professional) and qualifies as an active participant. During the current year, he incurred a $40,000
Roger owns rental houses (but is not a real estate professional) and qualifies as an active participant. During the current year, he incurred a $40,000 loss from his rental activities. His AGI without considering the loss is $130,000. a. How much of the loss can he deduct this year if he has no passive income? b. How much of the loss can he deduct this year if his AGI is $160,000
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Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
