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What would be the total income or loss

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Reference no: EM131941859

Question - This year Robert had the following income and losses from four passive activities:

Activity 1$(20,000)

Activity 2 (10,000)

Activity 3 (5,000)

Activity 4 33,000

Activity 4 had $10,000 of passive losses that are carried over from a prior year. Robert also had wages of $110,000.

Question: If Activity 1 were sold at an $18,000 gain, what would be the total income or loss from the four activities?

Reference no: EM131941859

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