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  answer-question

Federal Taxation 2020 Comprehensive

ISBN: 9780135196274

33rd Edition

Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse

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