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Determine the amount of loss that is suspended

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Reference no: EM131909793

Question - Ellen Sanderson has a Rental apartment and actively participates in the operations of the apartment, She does not live in the rental apartment nor has she ever since she purchased it. The following is the history of her activity.

She purchased the apartment three years ago (2009). That year she had a rental loss of $ 35000 and modified adjusted gross income of 80,000.

In 2010, she had a rental loss of $28,000 and modified adjusted gross income of $ 105,000.

In 2011, she had a rental loss of $15000 and modified adjusted gross income of $115,000.

1- For each of three years, determine

a. The amount of rental loss she may use in any year suffering a loss.

B. The amount of loss that is suspended.

c. The amount of modified adjusted gross income that she would use on her Form 1040.

Reference no: EM131909793

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