Business, 14.08.2020 01:01 DondreeColeman

Kathy and Annise are a married couple who file jointly. In the current year, they have net ordinary income of $10,000 from a partnership interest in which they do not materially participate. They also have a net loss of $30,000 from a rent house in which they actively participate. Their adjusted gross income (AGI) exclusive of these investments is $120,000. What is their AGI after taking into account these investments

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Kathy and Annise are a married couple who file jointly. In the current year, they have net ordinary...

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