Freda acquired a passive activity this year for 870000

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Freda acquired a passive activity this year for $870,000. Gross income from operations of the activity was $160,000. Operating expenses, not including depreciation, were 122,000. Regular income tax depreciation of $49,750 was computed under MACRS. AMT depreciation, computed under ADS, was $41,000. Compute Freda's passive loss deduction and passive loss suspended for regular income tax purposes and for AMT purposes.

Reference no: EM13578659

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