Charles, a single taxpayer, purchased a rental house in 2022, which he actively manages. During 2022, he had a loss of $12,000 from the rental house. If his adjusted gross income is $140,000 before the rental loss, what is the amount of his allowable deduction for the rental activity for the year? Enter your answer as a whole number.

Answer rating: 100% (QA)

To determine the amount of allowable deduction for the rental activity we need to consider the passi... View the full answer