Jana Reports the Following Income and Loss Activities A, B, and C Are All Passive Activities

question 30

Multiple Choice

Jana reports the following income and loss: $$\begin{array} { | l | r | } \hline \text { Salary } & \$ 120,000 \\\hline \text { Income from activity A } & 60,000 \\\hline \text { Loss from activity B } & ( 30,000 ) \\\hline \text { Loss from activity C } & ( 70,000 ) \\\hline\end{array}$$ Activities A, B, and C are all passive activities.
Based on this information, Jana has the following suspended losses:

• A) \[\begin{array} { | l | l | }
• \hline \text { Activity B } & \text { Activity C } \\
• \hline \$ 30,000 & \$ 70,000 \\
• \hline
• \end{array}\]
• B) \(\begin{array}{|l|l|}\hline
• \text { Activity B } & \text { Activity C } \\
• \hline\$ 0 & \$ 0\\\hline
• \end{array}\)
• C) \[\begin{array} { | l | l | }
• \hline \text { Activity B } & \text { Activity C } \\
• \hline \$ 18,000 & \$ 42,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | l | }
• \hline \text { Activity B } & \text { Activity C } \\
• \hline \$ 12,000 & \$ 28,000 \\
• \hline
• \end{array}\]

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