Solved: If lucys agi before the losses was 90000 how much of the, Managerial Accounting

If lucys agi before the losses was 90000 how much of the

1.Lucy has AGI of $120,000 before considering losses from some rental real estate she owns (she actively participates). She had the following losses from her rental property:

Rental Property #1 ......... ($22,000)

Rental Property #2 ......... ($ 5,000)

a. How much of the losses can Lucy deduct?

b. If Lucy's AGI before the losses was $90,000, how much of the losses can she deduct?

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Managerial Accounting: If lucys agi before the losses was 90000 how much of the

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