Dorothy acquired a 100% interest in two passive activities: Activity A in January 2012 and Activity B
Question:
Dorothy acquired a 100% interest in two passive activities: Activity A in January 2012 and Activity B in 2013. Through 2015, Activity A was profitable, but it produced losses of $200,000 in 2016 and $100,000 in 2017. Dorothy has passive activity income from Activity B of $20,000 in 2016 and $40,000 in 2017. After offsetting passive activity income, how much of the net losses may she deduct?
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In 2016 and 2017 Dorothy may deduct none of the net ...View the full answer
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Related Book For 
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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