Question: For the current year, Robert, a single taxpayer, earned wages of $ 2 3 5 , 0 0 0 from Big Shot Corporation. He also

For the current year, Robert, a single taxpayer, earned wages of $

235, 000

from Big Shot Corporation. He also received interest income of $

1, 000

from Little Credit Union. Robert had a $

9, 000

loss from his rental property which he actively manages. $

2, 000

of income was also reported on his Schedule K

- 1

from ABC Limited Partnership. Neither the rental property nor the partnership investment has passive losses carried over from prior years. Since Robert is not an active participant in a retirement plan, he decides to contribute $

6, 000

to his IRA.

.

Calculate Robert

s adjusted gross income using the above information.

.

How much is Robert

s unallowed loss from his passive investments?

.

What happens to the unallowed passive loss?

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