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Business, 28.07.2020 23:01 whitethunder05

Mr. Jones has a salary of $75,000 and $5,000 in dividends, for a total adjusted gross income of $80,000. He also has two real estate investments that he acquired this year: (a) a limited partnership with losses of $4,000, and (b) a real estate project in which he actively participates and owns 15%, with his share of losses equal to $15,000. How much of his losses can he deduct from the income on a joint return

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Mr. Jones has a salary of $75,000 and $5,000 in dividends, for a total adjusted gross income of $80,...
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