Question
Rus sell and Sharon are married and file a joint return. Their modified adjusted gross income i$78,000. Russell has losses of $18,000 from rental activities
Rus sell and Sharon are married and file a joint return. Their modified adjusted gross income i$78,000. Russell has losses of $18,000 from rental activities in which he participates actively. Sharon has $3000 loss from a limited partnership in which she does not materially participate. What is the amount of passive loss?
$3000
$7000
$15000
$18000
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Managerial Accounting Decision Making and Performance Management
Authors: Ray Proctor
4th edition
273764489, 978-0273764489
