Business
Business, 27.05.2020 22:07, landonp101

During the year, Mark reports $90,000 of active business income from his law practice. He also owns two passive activities. From Activity A, he earns $20,000 of income, and from Activity B, he incurs a $30,000 loss. As a result, Mark A) reports AGI of $80,000. B) reports AGI of $90,000 with a $10,000 passive loss carryover. C) reports AGI of $90,000 with a $30,000 passive loss carryover. D) reports AGI of $110,000 with a $30,000 passive loss carryover.

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During the year, Mark reports $90,000 of active business income from his law practice. He also owns...

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