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Sheena Maskell Sheena Maskell
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7 years ago
Joy reports the following income and loss:

Salary   $ 120,000
Income from activity A   60,000
Loss from activity B   ( 35,000)
Loss from activity C   ( 55,000)

Activities A, B, and C are all passive activities.

Based on this information, Joy has
A) adjusted gross income of $90,000.
B) salary of $120,000 and net losses of $30,000.
C) salary of $120,000 and passive losses of $30,000 that will be carried over.
D) salary of $120,000, passive income of $60,000, and passive loss carryovers of $90,000.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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MsLippyMsLippy
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7 years ago
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Sheena M. Author
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#2
7 years ago
Thank you so much
wrote...
#3
2 years ago
TY
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