Question: Problem 4 - 1 4 Passive Loss Limitations ( LO 4 . 8 ) Walter, a single taxpayer, purchased a limited partnership interest in a

Problem 4-14 Passive Loss Limitations (LO 4.8) Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1995. He also acquired a rental house in 2022, which he actively manages. During 2022, Walter's share of the partnership's losses was $30,000, and his rental house generated $20,000 in losses. Walter's modified adjusted gross income before passive losses is $120,000. If an amount is zero, enter "0". Question Content Area a. Calculate the amount of Walter's allowable loss for rental house activities for 2022.

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