Business
Business, 25.04.2020 00:57, korireidkdotdot82021

Select the true statement based on the following information for the taxpayer's current year:
Nonpassive income from activity X $30,000
Passive activity income from activity Y $20,000
Suspended loss carryover from passive activity Z [activity Z was disposed of in the current year]$(25,000)
A) The suspended loss reduces activity X income to $5,000.
B) The suspended loss reduces activity X income to $25,000
C) The suspended loss reduces activity Y income to $0, and the $5,000 balance of loss is lost.
D) The suspended loss of activity Z is lost due to the disposal of the activity.

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Answers: 1

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Select the true statement based on the following information for the taxpayer's current year:
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