Passive activities. Jhudora owns one rental property. She actively participates in managing the property, including identifying tenants and arranging for maintenance. She has suspended losses of $15,000 with respect to the property. This year, the property lost $21,000. Jhudora earns a salary of $95,000 this year working full time as a teacher. She has no other income or "for AGI" deductions. What is Jhudora's adjusted gross income (AGI)?

Passive activities. Jhudora owns one rental property. She actively participates in managing the property, including identifying tenants and arranging for maintenance. She has suspended losses of $15,000 with respect to the property. This year, the property lost $21,000. Jhudora earns a salary of $95,000 this year working full time as a teacher. She has no other income or "for AGI" deductions. What is Jhudora's adjusted gross income (AGI)?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter7: Losses—deductions And Limitations

Section: Chapter Questions

Problem 86TA

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