Nancy reports the following income and loss in the current year.
All three activities are passive activities with respect to Nancy.Nancy also has $21,000 of suspended losses attributable to activity C carried over from prior years.During the year,Nancy sells activity C and realizes a $15,000 taxable gain.What is Nancy's AGI as a result of these transactions?
A) $50,000
B) $55,000
C) $64,000
D) $71,000
Correct Answer:
Verified
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