Carey, a single taxpayer, purchased a rental house in 2019, which he actively manages. During 2019, Carey had a loss of $14,000 from the rental house. If Carey's adjusted gross income for 2019 is $138,000 before the rental loss, what is the amount of Carey's allowable deduction for the rental activity for 2019?
A) $0
B) $3,000
C) $6,000
D) $12,000
E) None of these
Correct Answer:
Verified
Q90: Arnold purchased two rental properties 6 years
Q91: Nancy has active modified adjusted gross income
Q92: Christian, a single taxpayer, acquired a rental
Q93: In 2019, Keri has wages of $20,000,
Q94: Warren invested in a limited partnership tax
Q96: Jess has had a couple of good
Q97: Which of the following can be used
Q98: Karen has a net operating loss in
Q99: Wages are considered "active income."
Q100: Patrick has a business net operating loss
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents