Billy Ray owns several parcels of rental real estate, and he actively participates in managing the properties. His total loss from these activities in 2012 is $30,000. Assuming that his AGI for 2012 is $110,000, what is the allowable deduction from these properties in 2012?
A) $0
B) $15,000
C) $20,000
D) $30,000
Correct Answer:
Verified
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