Jeffrey Heinz, a salaried person, incurred a loss of $4,000 from passive activities. This loss can be applied as a deduction to offset taxable income from:

Name: Jeffrey Heinz, a salaried person, incurred a loss of $4,000 from passive activities. This loss can be applied as a deduction to offset taxable income from:
Brand: Quizplus
Rating: 4.9 (51 reviews)

Question

Quizplus · Accepted Answer

Passive activity losses can only be used to offset income from other passive activities, not active income like salary or capital gains.

Jeffrey Heinz, a Salaried Person, Incurred a Loss of $4,000