Lucy has AGI of $125,000 before considering losses from some rental real estate she owns (she...

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Lucy has AGI of $125,000 before considering losses from some rental real estate she owns (she actively participates). She had the following losses from her rental property: Rental property 1 Rental property 2 Required: $ (26,000) (10,000) a. How much of the losses can Lucy deduct? b. If Lucy's AGI before the losses was $90,000, how much of the losses can she deduct? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B How much of the losses can Lucy deduct? Note: Do not round intermediate calculations and round your final answers to nearest whole dollar a Rental property Suspended losses Allowed losses Property 1 $ 10,833 $ Property 2 $ 4,167 $ 15,167 x 5,833 x Lucy has AGI of $125,000 before considering losses from some rental real estate she owns (she actively participates). She had the following losses from her rental property: Rental property 1 Rental property 2 Required: $ (26,000) (10,000) a. How much of the losses can Lucy deduct? b. If Lucy's AGI before the losses was $90,000, how much of the losses can she deduct? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B How much of the losses can Lucy deduct? Note: Do not round intermediate calculations and round your final answers to nearest whole dollar a Rental property Suspended losses Allowed losses Property 1 $ 10,833 $ Property 2 $ 4,167 $ 15,167 x 5,833 x

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Answer Rental Property Losses for Lucy Lets analyze how much of the rental property losses Lucy can ... View the full answer