Evelyn has rental income of $42,500 and passive income of $14,250. She also has $127,500 of losses from a real estate rental activity in which she actively participates. Evelyn's AGI is $84,000 before considering this activity. Required: How much rental loss can she deduct against other income sources without regard to the at-risk rules? Deductible rental loss

Evelyn has rental income of $42,500 and passive income of $14,250. She also has $127,500 of losses from a real estate rental activity in which she actively participates. Evelyn's AGI is $84,000 before considering this activity. Required: How much rental loss can she deduct against other income sources without regard to the at-risk rules? Deductible rental loss

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter11: Investor Losses

Section: Chapter Questions

Problem 4CPA

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Evelyn has rental income of $44,500 and passive income of $15,250. She also has $133,500 of losses from a real estate rental activity in which she actively participates. Evelyn’s AGI is $88,000 before considering this activity. Required: How much rental loss can she deduct against other income sources without regard to the at-risk rules? Deductible rental loss $
Jiu has $105,000 of losses from a real estate rental activity in which she actively participates. She has other rent income of $25,000 and other passive activity income of $32,000. Her AGI before considering these items of income and loss is $95,000. Determine the following amounts for Jiu (ignoring the at-risk rules): a. Amount of loss deductible against other income (active and portfolio): $ b. Suspended rental loss: $ 23,000 48,000 X
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who has AGI of $80,000 before considering rental activities, is activein three separate real estate rental activities and is in the 22% tax bracket.She has $12,000 of losses from Activity A, $18,000 of losses from Activity B, and income of $10,000 from Activity C. She also has $2,100 of tax credits from Activity A. Calculate the deductions and credits that she is allowed and the suspended losses and credits
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