9. LO.9 Noah Yobs, who has $62,000 of AGI before considering rental activities, has $70,000 of losses

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9. LO.9 Noah Yobs, who has $62,000 of AGI before considering rental activities, has

$70,000 of losses from a real estate rental activity in which he actively participates.

He also actively participates in another real estate rental activity from which he has $33,000 of income. He has other passive activity income of $20,000. What is Noah’s adjusted gross income for the current year?

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Essentials Of Taxation Individuals And Business Entities

ISBN: 233160

1st Edition

Authors: Nellen/Young/Raabe/Maloney

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Question Posted: Jul 18, 2024 07:06 AM

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9. LO.9 Noah Yobs, who has $62,000 of AGI before considering rental activities, has $70,000 of losses

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Essentials Of Taxation Individuals And Business Entities

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