What is Ingrid overall gain or loss

Reference no: EM132217011

Question - In 2017, Ingrid Haddock had the following: net income from passive activities, $10,000; net income from non-passive activities, $7,000; net loss from passive activities, $2,500; net loss from non-passive activities, $3,000. For purposes of filing Form 8582, what is Ingrid's overall gain or loss for 2017?

Ingrid has an overall gain of $11,500 from all of her activities and does not have to file Form 8582.

Ingrid has an overall gain from her passive activities and does not have to file Form 8582.

Ingrid has a gain of $17,000 from all of her activities and will need to file Form 8582.

Ingrid has losses from her activities totaling $5,500 and will need to file Form 8582.

Reference no: EM132217011

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