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Sam rents his second home. During the current year, he reported a $ 4 0 , 0 0 0 net loss from the rental. Assume

Sam rents his second home. During the current year, he reported a $

40, 000

net loss from the rental. Assume that Sam actively participates in the rental activity and no phase

-

out limitations apply. What is the greatest amount of the rental loss that Sam can deduct against ordinary income in the current year?

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