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Several years ago, Joy acquired a passive activity. Until 2006, the activity was profitable. Joy's at-risk amount at the beginning of 2006 was $250,000. The
Several years ago, Joy acquired a passive activity. Until 2006, the activity was profitable. Joy's at-risk amount at the beginning of 2006 was $250,000. The activity produced losses of $100,000 in 2006, $80,000 in 2007, and $90,000 in 2008. During the same period, no passive income was recognized. How much is suspended under the at-risk rules and the passive loss rules at the beginning of 2009? (Points : 6) $0; $270,000 $20,000; $250,000 $30,000; $240,000 $260,000; $10,000 None of the above
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