Mort is the sole owner of rental real estate that produces a net loss of $18,000 in 2009 and $20,000 in 2010 and income of $6,000 in 2011. His adjusted gross income, before considering the rental property for the years 2009 through 2011, is $120,000, $140,000, and $90,000, respectively.
- What is Mort's adjusted gross income for 2009, 2010, and 2011 if he qualifies as a real estate professional?
- What is Mort's adjusted gross income for 2009, 2010, and 2011 if he actively participates in the rental activity?