Question

Ms. Adams owns an interest in ABCD Partnership, which is a passive activity. At the beginning of the year, she projects that her share of ABCD’s business loss will be $16,000, and that she will have the following additional items:
Net profit from her consulting business ……… $75,000
Deduction for SE tax ………………………… (5,299)
Interest and dividends ……………………….. 1,500
Ms. Adams plans to buy a rental house that should generate $9,500 income this year. Compute her AGI and the tax cost of her projected rent income.


$1.99
Sales0
Views30
Comments0
  • CreatedNovember 03, 2015
  • Files Included
Post your question
5000