3. Obi-Wan has the following income and losses for 2021: Wages $60,000 Partnership 1 Income...
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3. Obi-Wan has the following income and losses for 2021:
Wages $60,000
Partnership 1 Income $38,000 Material participant
Partnership 2 Loss ($18,000) Not a material participant, no at-risk or basis limitations
S Corp 1 Loss ($42,000) Material participant, no at-risk or basis limitations
S Corp 2 Income 13,000 Not a material participant
Calculate his AGI for 2021.
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