Dorothy acquired a 100% interest in two passive activities: Activity A in January 2016 and Activity B
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Dorothy acquired a 100% interest in two passive activities: Activity A in January 2016 and Activity B in 2017. Through 2019, Activity A was profitable, but it produced losses of $200,000 in 2020 and $100,000 in 2021. Dorothy has passive activity income from Activity B of $20,000 in 2020 and $40,000 in 2021. After offsetting passive activity income, how much of the net losses may she deduct?
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Net losses to be deducted 200000 Losses to b...View the full answer
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Related Book For 
South-Western Federal Taxation 2022 Individual Income Taxes
ISBN: 9780357519073
45th Edition
Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman
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