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Dave Eichoff had adjusted gross income for 2023 of $122,000 before any...

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Accounting

Dave Eichoff had adjusted gross income for
2023 of $122,000 before any passive losses or
other rental activities. He owned a mountain
cabin in Idaho, which he rented for 125
days and which was not used by him at all
during the year. The property will experience
a net loss of $12,500. He also had a limited
partnership interest that was purchased in
1987 and yielded a loss of $22,000. What is
Dave's adjusted gross income after considering
the passive activity and rental losses?
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