Professional exception or the active participant test

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Reference no: EM13991420

Adela owns rental real estate that generated a $27,000 loss during the current year. Using the information below as a guide, prepare a spreadsheet calculating her adjusted gross income. It should be flexible enough to calculate Adela's adjusted gross income if she meets either the real estate professional exception or the active participant test.

Salary	$80,000
Dividends	22,000
Interest	12,500

Reference no: EM13991420

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