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This year Robert had the following income and losses from four passive activities: Activity 1 Activity 2 Activity 3 Activity 4 $ (24,000) (12,400)

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This year Robert had the following income and losses from four passive activities: Activity 1 Activity 2 Activity 3 Activity 4 $ (24,000) (12,400) (6,600) 39,400 Activity 4 had $12,000 of passive losses that are carried over from a prior year. Robert also had wages of $142,000. Required: a. How much income or loss does Robert have from the four activities? b. How are the suspended PALS allocated? c. If Activity 1 were sold at an $23,200 gain, what would be the total income or loss from the four activities? Complete this question by entering your answers in the tabs below. Required A Required B Required C How much income or loss does Robert have from the four activities? Net loss Remilled A Required B >

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