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What is the greatest amount of the rental loss

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Problem - Sam rents his second home. During the current year, he reported a $40,000 net loss from the rental. Assume that Sam actively participates in the rental activity and no phaseout limitations apply. What is the greatest amount of the rental loss that Sam can deduct against ordinary income in the current year?

a. $25,000

b. $40,000

c. $0

d. $5,000

Reference no: EM132658648

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