Joseph has AGI of $170,000 before considering the $20,000 rental loss for property which he actively manages.How much of the rental loss can he deduct?
A)$0
B)$10,000
C)$20,000
D)$25,000

Name: Joseph has AGI of $170,000 before considering the $20,000 rental loss for property which he actively manages.How much of the rental loss can he deduct? A)$0 B)$10,000 C)$20,000 D)$25,000
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Question

Quizplus · Accepted Answer

Joseph's AGI exceeds the $150,000 threshold for the passive activity loss deduction, so he cannot deduct any rental loss.

Joseph Has AGI of $170,000 Before Considering the $20,000 Rental