Charlie is married and files a joint return. He reports the following items of income and loss
Question:
Salary .................. $ 120,000
Activity A (passive) ............. 13,000
Activity B (nonbusiness rental real estate).... ( 45,000)
If Charlie actively participates in the management of Activity B, what is his AGI for the year and what is the passive loss carryover to next year?
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Related Book For 
South Western Federal Taxation 2015 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781285438290
18th Edition
Authors: James Smith, William Raabe, David Maloney, James Young
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