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) $16,000.
D)$20,000.

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) $16,000. 
D)$20,000.

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) $16,000. 
D)$20,000.

Spencer Has an Ownership Interest in Three Passive Activities