Explain what is his agi for the year

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Reference no: EM1350335

Larry is married and files a joint return. He reports the following items of income and loss for the year:

Salary $ 135,000
Activity A (passive) 13,000
Activity B (nonbusiness rental real estate) ( 45,000)

If Larry actively participates in the management of Activity B, what is his AGI for the year and what is the passive loss carryover to next year?

Reference no: EM1350335

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