In 2019, Julie, a single individual, reported the following irems of income and deduction: Salary $166,000 Interest
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In 2019, Julie, a single individual, reported the following irems of income and deduction:
Salary | $166,000 |
Interest income | 14,000 |
Long-teml capital gain from sales of stock | 22,000 |
Shorr-term capital losses from sales of stock | (17,000 |
Loss from a passive rental real estate activity | (20,000 |
Interest expense on loan to purchase srock | (21,000 |
Qualified residence interest on residence | (12,000 |
Charitable contributions | ( 8,000 |
Property taxes on residence | ( 5,000 |
Tax return preparation fees | ( 2,500 |
Unreimbursed employee business expenses | ( 2,000 |
Julie owns 100% and is an active participant in the rental real estate activity. Whar is her taxable income for 2019?
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Related Book For
Federal Taxation 2020 Comprehensive
ISBN: 9780135196274
33rd Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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