Question: Exercise 11-31 (Algorithmic) (LO. 8) Noah Yobs, age 55, who has $91,000 of AGI (solely from wages) before considering rental activities, has $81,900 of losses
Exercise 11-31 (Algorithmic) (LO. 8) Noah Yobs, age 55, who has $91,000 of AGI (solely from wages) before considering rental activities, has $81,900 of losses from a real estate rental activity in which he actively participates. He also actively participates in another real estate rental activity from which he has $45,500 of income. He has other passive activity income of $29,120. Question Content Area a. What amount of rental loss can Noah use to offset active or portfolio income in the current year? $fill in the blank 196e47079ff2054_1 Feedback Area Feedback Question Content Area b. Compute Noah's AGI on Form 1040 [page 1; also complete Schedule 1 (Form 1040)] for the current year. Use the minus sign to indicate a loss
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