Dorothy acquired a 100% interest in two passive activities: Activity A in January 2010 and Activity B in 2011. Through 2013, Activity A was profitable, but it produced losses of $200,000 in 2014 and $100,000 in 2015. Dorothy has passive income from Activity B of $20,000 in 2014 and $40,000 in 2015. The amount of losses she may deduct in 2015 is $ ________ and the total suspended losses carried forward to 2016 is $________.

Answer rating: 100% (QA)

D may deduct 0 of the net passive losses and which remain after offsetting the passive i... View the full answer