Harvey rents his second home. During 2012, Harvey reported a net loss of $35,000 from the rental.

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Harvey rents his second home. During 2012, Harvey reported a net loss of $35,000 from the rental. If Harvey is an active participant in the rental and his AGI is $80,000, how much of the loss can he deduct against ordinary income in 2012?

a. $35,000

b. $25,000

c. $5,000

d. $0

e. Other

Related Book For answer-question

Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Posted Date: Oct 04, 2018 04:06 AM

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Harvey rents his second home. During 2012, Harvey reported a net loss of $35,000 from the rental.

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Intermediate Accounting IFRS

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