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What is the amount of loss that may be deducted

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Question - In the current year Faith reports $175,000 of salary income, $24,000 of income from activity X, and $18,000 and $22,000 losses from activities Y and Z, respectively. All three activities are passive with respect to Faith and are purchased during the current year. What is the amount of loss that may be deducted with respect to each of these activities? Also compute the amount of loss that must be carried over for each activity.

Reference no: EM133185765

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