Kathy and Annise are a married couple who file jointly. In the current year, they have net ordinary income of $10,000 from a partnership interest in which they materially participate. They also have a net loss of $30,000 from a rent house in which they actively participate. Their adjusted gross income (AGI) exclusive of these investments is $120,000. 

What is their AGI after taking into account these investments?

Answer rating: 100% (QA)

To determine Kathy and Annises adjusted gross income AGI after ... View the full answer