Question

Sarah has investments in four passive activity partnerships purchased several years ago. Last year, the income and losses were as follows:
Activity Income (Loss)
A ............ $ 30,000
B ............ (30,000)
C ............ (15,000)
D ............ (5,000)
In the current year, she sold her interest in Activity D for a $10,000 gain. Activity D, which had been profitable until last year, had a current loss of $1,500. How will the sale of Activity D affect Sarah’s taxable income in the current year?


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  • CreatedMay 25, 2015
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