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Pleas do it, step by step 14. Rental Real Estate. (Obj. 3) The Warrens...

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Accounting

imagePleas do it, step by step

14. Rental Real Estate. (Obj. 3) The Warrens incur a $22,000 loss from rental real estate activities in which they actively participate. The Warrens own more than 10% of the activity. Their only other source of income for the year is $130,000 of wages. What amount of the loss can the Warrens deduct on their joint tax return

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