Basil has $123,000 AGI (before any rental loss). He also owns several rental properties in which...
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Basil has $123,000 AGI (before any rental loss). He also ownsseveral rental properties in which he actively participates. Therental properties produced a $36,550 loss in the current year. Howmuch, if any, of the rental loss can Basil deduct in the currentyear?
Basil has $123,000 AGI (before any rental loss). He also ownsseveral rental properties in which he actively participates. Therental properties produced a $36,550 loss in the current year. Howmuch, if any, of the rental loss can Basil deduct in the currentyear?
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