Question: In 2012, Mark purchased two separate activities. Information regarding these activities for 2012 and 2013 is as follows: The 2012 losses were suspended losses for

In 2012, Mark purchased two separate activities. Information regarding these activities for 2012 and 2013 is as follows:

The 2012 losses were suspended losses for that year. During 2013, Mark also reports salary income of $120,000 and interest and dividend income of $20,000. Compute the amount (if any) of losses attributable to activities A and B that are deductible in 2013 and any suspended losses carried to 2014.

2012 2013 ActivitySttsIncome (Loss) ActivitytIncome (Loss) A Passive ($24,000) B Passive 8,000) Active Passive $10,000 20,000

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