Jackson invested $224,000 in a passive activity five years ago. On January 1, 2017, his at-risk amount in the activity was $53,500. His share of the income and losses in the activity were $63,050 loss in 2017, $25,950 loss in 2018, and $92,750 gain in 2019. How much can Jackson deduct in 2017 and 2018? What is his taxable income from the activity in 2019? Keep in mind the at-risk rules as well as the passive loss rules.

Walmart and target are the only stores in a remote town that currently stock and sell the playstation 5 video game console. managers at both stores are simultaneously deciding whether to charge a price of $1,000 or $1,500 for each console. if both stores charge $1,000, they earn a profit of $100,000 each. if both stores charge $1,500, they earn a profit of $200,000 each. if one store charges $1,000 and the other store charges $1,500, the store that charges $1,000 earns a profit of $250,000 and the firm that charges $1,500 earns a profit of $50,000. if walmart and target they can both charge $1,500 and earn the highest combined profit available. engage in spirited price competition collude with each other privately undercut each other after making an agreement compete with each other only with regard to price and not quantity compete with each other only with regard to quantity and not price