Question: Multiple Choice 4 - 3 1 Passive Loss Limitations ( LO 4 . 8 ) Ned has active modified adjusted gross income before passive losses

Multiple Choice 4-31
Passive Loss Limitations (LO 4.8)
Ned has active modified adjusted gross income before passive losses of $250,000. He has a loss of $15,000 on rental property he actively manages. How much of the loss is he allowed to take against the $250,000 of other income?
a. $5,000
b. $10,000
c. $15,000
d. None of these choices are correct.

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