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What amount of rental loss can noah use to offset active

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Noah Yobs, who has $87,400 of AGI (solely from wages) before considering rental activities, has $78,660 of losses from a real estate rental activity in which he actively participates. He also actively participates in another real estate rental activity from which he has $43,700 of income. He has other passive activity income of $27,968.

Problem a. What amount of rental loss can Noah use to offset active or portfolio income in the current year?

Problem b. Compute Noah's AGI on Form 1040 for the current year. Use the minus sign to indicate a loss.

Reference no: EM132669597

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