Question: Question Content AreaNancy has active modified adjusted gross income before passive losses of $ 1 2 0 , 0 0 0 . She has a

Question Content AreaNancy has active modified adjusted gross income before passive losses of $120,000. She has a loss of $15,000 on a rental property she actively manages. How much of the loss is she allowed to deduct against the $120,000 of other income?
a. None
b. $5,000
c. $2,500
d. $10,000

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