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Tammy reports the following income and loss for the year 1: Salary Dividend Loss from activity X Loss from activity Y Income from activity Z

Tammy reports the following income and loss for the year 1: Salary Dividend Loss from activity X Loss from activity Y Income from activity Z $500,000 10,000 (70,000) (30,000) 40,000 X, Y, and Z are all passive activities. a. What is Tammy's net income for the current year after considering the passive investment? b. What is the total amount of suspended losses carried forward to year 2?
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Tammy reports the following income and loss for the year 1 : X,Y, and Z are all passive activities. a. What is Tammy's net Income for the current year after considering the passive investment? b. What is the total amount of suspended losses carried forward to year 2

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