Question: Mr Garza earned an 85 000 salary and recognized a 12 000

Mr. Garza earned an $85,000 salary and recognized a $12,000 loss on a security sale and a $14,000 gain on the sale of a limited partnership interest. His share of the partnership’s business income through date of sale was $2,100. (Both the gain and the business income are passive activity income.) Mr. Garza was allocated a $13,900 passive activity loss from an S corporation. Compute his AGI.

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  • CreatedNovember 03, 2015
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