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Several years ago, Snoopy acquired a passive activity. Until 2017, the activity was profitable. Snoopys at-risk amount at the beginning of 2017 was $238,500. The
Several years ago, Snoopy acquired a passive activity. Until 2017, the activity was profitable. Snoopys at-risk amount at the beginning of 2017 was $238,500. The activity produced losses of ($100,000) in 2017, ($80,000) in 2018, and ($90,000) in 2019. During the same period, no passive activity income was recognized.
How much of these losses are suspended under the at-risk rules at the end of 2019?
How much of these losses are suspended under the passive activity loss rules at the end of 2019?
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