Ken Dawson has the following passive activity items: Prior-year passive loss carryforward amounts: ($3,000) from ABC PTP ($9,000) from XYZ PTP Current-year passive income and loss amounts: $5,000 ABC PTP $2,000 DEF PTP $4,000 XYZ PTP Note: PTP denotes Publicly Traded Partnership, all other activity is private interest. 

What is the net income reported this year for the PTP activity?

Answer rating: 100% (QA)

To calculate the net income reported this year for the PTP Publicly Traded Partnership activit... View the full answer