In 2022, Larry and Susan each invest $10,000 in separate investment activities. They each incur deductible expenses
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In 2022, Larry and Susan each invest $10,000 in separate investment activities. They each incur deductible expenses of $800 associated with their respective investments. Explain why Larry’s expenses might not be deductible and Susan’s expenses might be appropriately classified as deductions for AGI.
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Investment expenses associated with rental property or royalty property are deductibl...View the full answer
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Related Book For 
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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