Joy reports the following income and loss: Activities A,B,and C are all passive activities. Based on this information,Joy has the following suspended losses:

Question

Joy reports the following income and loss:  Activities A,B,and C are all passive activities. Based on this information,Joy has the following suspended losses:

Quizplus · Accepted Answer

According to the information provided, activities A, B, and C are all passive activities. Therefore, Joy has a suspended loss for Activity A, which is $3,000. There is no information provided about any suspended losses for Activities B and C, so we cannot choose options B or C. Option D is not relevant to the question as it refers to a different topic. Therefore, the best choice is A.

Joy Reports the Following Income and Loss: Activities A,B,and