Plant owns and actively manages an apartment complex. This year, the complex generated a $32,790 net loss. If Ms. Plant's AGI before considering this loss is $196,100 and she owns no other passive activities, how much of the loss is deductible this year?

Question

Quizplus · Accepted Answer

AGI is above $150,000, so the $25,000 exception is reduced to zero and the entire rental loss is a nondeductible passive activity loss.

Plant Owns and Actively Manages an Apartment Complex