Spencer has an ownership interest in three passive activities.In the current tax year,the activities had the following income and losses: How much in passive losses can Spencer deduct?
A)$0.
B)$12,000.
C)$20,000.
D)$16,000.

Question

Spencer has an ownership interest in three passive activities.In the current tax year,the activities had the following income and losses:  How much in passive losses can Spencer deduct?
A)$0. 
B)$12,000. 
C)$20,000. 
D)$16,000.

Quizplus · Accepted Answer

The Answer of Spencer has an ownership interest in three passive activities.In the current tax year,the activities had the following income and losses:  How much in passive losses can Spencer deduct?
A)$0. 
B)$12,000. 
C)$20,000. 
D)$16,000.

Spencer Has an Ownership Interest in Three Passive Activities