Solution-Calculate tony deductible loss basis and any losses

Calculate tony deductible loss basis and any losses

Reference no: EM131922689

Question - In 2011 Tony invests $35,000 in an activity for which he is not a material participant. Tony has no other sources of income. Tony's losses from the activity are as follows:

Income/(Loss)

2011 ($25,000)

2012 ($15,000)

2013 $50,000

Calculate Tony's deductible loss, basis, and any losses suspended under the at-risk and/or passive activity loss rules each year.

Reference no: EM131922689

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Calculate tony deductible loss basis and any losses

Reference no: EM131922689

Reference no: EM131922689

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