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This year Robert had the following income and losses from four passive activities: Activity 1 $ (23,250 ) Activity 2 (11,950 ) Activity 3 (6,300

This year Robert had the following income and losses from four passive activities:

Activity 1 $ (23,250 )
Activity 2 (11,950 )
Activity 3 (6,300 )
Activity 4 38,200

Activity 4 had $11,625 of passive losses that are carried over from a prior year. Robert also had wages of $136,000.

Required:

  1. How much income or loss does Robert have from the four activities?
  2. How are the suspended PALs allocated?
  3. If Activity 1 were sold at an $22,225 gain, what would be the total income or loss from the four activities?

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