Problem $7-42($LO$.6)$

Josie and Zach Scully are married. Josie is a material participant in a business that specializes in monetizing intellectual property. This

business suffered a $$250,000$ taxable loss in $2023.$ Zach started a business two years ago in which he materially participates. The business

suffered a taxable loss of $$600,000$ in $2023.$

What is Josie's and Zach's deductible loss from these activities for $2023?$

$

Compute Josie's and Zach's deductible loss from these activities for $2023?$

Josie's business loss

$

Zach's business loss

Excess business loss threshold amount

Excess business loss