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How much income must Joe include

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Question - Joe invested $5,000 in partnership A and $30,000 in partnership B. Joe is retired and therefore works only a few hours a month in each partnership. In addition, Joe has $3,000 of W-2 wage income and $2,000 interest income. His share of partnership A's loss is $7,000 and his share of partnership B's profit is $4,000. How much income/loss must Joe include from the two partnerships in determining his AGI?

Reference no: EM132504321

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