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Sheena Maskell Sheena Maskell
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7 years ago
Nancy reports the following income and loss in the current year.

Salary   $60,000
Income from activity A   18,000
Loss from activity B   (  9,000)
Loss from activity C   ( 13,000)

All three activities are passive activities with respect to Nancy. Nancy also has $21,000 of suspended losses attributable to activity C carried over from prior years. During the year, Nancy sells activity C and realizes a $15,000 taxable gain. What is Nancy's AGI as a result of these transactions?
A) $50,000
B) $55,000
C) $64,000
D) $71,000
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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Yoko900Yoko900
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Sheena M. Author
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#2
7 years ago
I took a chance with your answer

It was right
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