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What is Mike net income for the current year

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Problem - Mike, an attorney, earns $200,000 from his law practice and receives $45,000 in dividends and interest during the year. In addition, he incurs a loss of $50,000 from an investment in a passive activity acquired three years ago. What is Mike's net income for the current year after considering the passive investment?

Reference no: EM132668380

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