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What is the amount of suspended losses

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Reference no: EM133162662

Question - During the current year, Ellie, a married individual who files a joint return, reports the following items of income and loss:

Data table

Salary $138,000

Activity X (passive) 18,000

Activity Y (rental real estate, nontrade or business) (36,000)

Activity Z (rental real estate, nontrade or business) (12,000)

Ellie actively participates in activities Y and Z and owns 100% of both Y and Z.

Required -

a. What is Ellie's AGI for the year?

b. What is the amount of suspended losses (if any) that may be carried over with respect to each activity?

Reference no: EM133162662

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