Josie, an unmarried taxpayer, has $155,000 in salary, $10,000 in income from a limited partnership, and a $26,000 passive activity loss from a real estate rental activity in which she actively participates. If her modified adjusted gross income is $155,000, how much of the $26,000 loss is deductible?
A) $0
B) $10,000
C) $25,000
D) $26,000
E) None of the above

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The Answer of Josie, an unmarried taxpayer, has $155,000 in salary, $10,000 in income from a limited partnership, and a $26,000 passive activity loss from a real estate rental activity in which she actively participates. If her modified adjusted gross income is $155,000, how much of the $26,000 loss is deductible?
A) $0
B) $10,000
C) $25,000
D) $26,000
E) None of the above

Josie, an Unmarried Taxpayer, Has $155,000 in Salary, $10,000 in Income