Ms. TN owns a one-half interest in an apartment complex, which is her only passive activity. The

Question:

Ms. TN owns a one-half interest in an apartment complex, which is her only passive activity. The complex operated at a $53,000 loss this year. In addition to her share of this loss, Ms. TN had the following income items:
Salary ……………………………$59,000
Interest and dividends ………….. 4,400
a. Compute her AGI.
b. How would AGI change if her salary was $113,400 rather than $59,000?
c. How would AGI change if her salary was $168,250 rather than $59,000?