Mitch and Sydney are married and will file a joint return. Their modified adjusted gross income is

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Mitch and Sydney are married and will file a joint return. Their modified adjusted gross income is $98,000. Mitch has losses of $12,000 from rental activities in which he actively participates. Sydney has a $1,000 loss from a limited partnership in which she does not materially participate. What is the amount of their allowable passive loss?

$1000

$12,000

$13,000

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Posted Date: Nov 14, 2021 09:25 AM

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Mitch and Sydney are married and will file a joint return. Their modified adjusted gross income is

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