Billy Ray owns several parcels of rental real estate, and he actively participates in managing the properties.
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Question:
Billy Ray owns several parcels of rental real estate, and he actively participates in managing the properties. His total loss from these activities in 2019 is $30,000. Assuming that his AGI for 2019 is $110,000, what is the allowable deduction from these properties in 2019?
A) $0
B) $15,000
C) $20,000
D) $30,000
Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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