Tammy Faye Jones owned three passive activities in 2019 (she had no suspended losses prior to 2019):

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How much is her passive loss deduction (against nonpassive income) and suspended loss for each activity and the manner in which it is allocated?

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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Question Posted: Feb 18, 2024 07:21 AM

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Tammy Faye Jones owned three passive activities in 2019 (she had no suspended losses prior to 2019):

Question:

Activity One Two Three Date Acquired 7/20/94 9/01/98 3/10/99 2019 Allocated Gain/(Loss) (60,000) 40,000 (30,000)

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CCH Federal Taxation Basic Principles 2020

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