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3 Cards in this Set
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ACCT 323 Week 4 Homework |
ACCT 323 Week 4 Homework 1) In the current tax year, Gunther earned $125,000 from his job as a civil engineer. In addition,he received $30,000 of income from Activity A, and lost $40,000, and 20,000 from Activities Band C respectively. Activities A, B, and C are passive activities that Gunther acquired in thecurrent year. What amount of loss may Gunther deduct on his current year taxes with respect toeach activity? What amount of loss, if any, must be carried over to the subsequent year for eachactivity?2) During the current year, Beth and Bill, who file a joint return, incurred the following items ofincome and loss: |
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ACCT 323 Week 4 Homework 1) In the current tax year, Gunther earned $125,000 from his job as a civil engineer. In addition,he received $30,000 of income from Activity A, and lost $40,000, and 20,000 from Activities Band C respectively. Activities A, B, and C are passive activities that Gunther acquired in thecurrent year. What amount of loss may Gunther deduct on his current year taxes with respect toeach activity? What amount of loss, if any, must be carried over to the subsequent year for eachactivity?2) During the current year, Beth and Bill, who file a joint return, incurred the following items ofincome and loss: |
ACCT 323 Week 4 Homework |
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ACCT 323 Week 4 Homework |
ACCT 323 Week 4 Homework 1) In the current tax year, Gunther earned $125,000 from his job as a civil engineer. In addition,he received $30,000 of income from Activity A, and lost $40,000, and 20,000 from Activities Band C respectively. Activities A, B, and C are passive activities that Gunther acquired in thecurrent year. What amount of loss may Gunther deduct on his current year taxes with respect toeach activity? What amount of loss, if any, must be carried over to the subsequent year for eachactivity?2) During the current year, Beth and Bill, who file a joint return, incurred the following items ofincome and loss: |
