Question
United States taxation Question. Please answer each part! Taxpayer has AGI of $130,000 and is single. He also had the following rental losses by property-
United States taxation Question. Please answer each part!
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Taxpayer has AGI of $130,000 and is single. He also had the following rental losses by property- calculate the allowed loss and unallowed loss by property:
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A=$30,000
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B=$50,000
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C=$20,000
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if taxpayer was married and both had the same AGI of $130,000 would answer to question 1 change?
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If taxpayer figured he had an additional $10k in property A repairs, how would that change taxable income?
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If taxpayer was a real estate professional, would this change answer to question 1?
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If taxpayer was a real estate professional in California, would this change answer to question 1
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
