What amount of rental real estate activity loss deductible, Financial Accounting

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What amount of rental real estate activity loss deductible

Problem

Lane, a single taxpayer, received $160,000 in salary, $15,000 in income from an S Corporation in which Lane does not materially participate, and a $35,000 passive loss from a real estate rental activity in which Lane materially participated. Lane's modified adjusted gross income was $165,000. What amount of the rental real estate activity loss was deductible?

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Financial Accounting: What amount of rental real estate activity loss deductible

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Financial Accounting: What amount of rental real estate activity loss deductible

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