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Calculate the amount of Walters allowable deduction

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Question - Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1992. He also acquired a rental house in 2018, which he actively manages. During 2018, Walter's share of the partnership's losses was $10,000, and his rental house generated $26,000 in losses. Walter's modified adjusted gross income before passive losses is $105,000.

Required - Calculate the amount of Walter's allowable deduction for rental house activities for 2018.

Reference no: EM132479069

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