During the current year, Ben worked 1,500 hours as a tax consultant and 500 hours as a
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Question:
During the current year, Ben worked 1,500 hours as a tax consultant and 500 hours as a real estate agent. His one other employee (his wife) worked 350 hours in the real estate business. Ben eamed $60,000 as a tax consultant, and together the couple lost $18,000 in the real estate business.
How should Ben treat the loss on his federal income tax return?
Instructions:
Related Book For
Fundamentals Of Taxation 2015
ISBN: 9781259293092
8th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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