Mara Owns an Activity with Suspended Passive Losses from Prior

question 18

Multiple Choice

Mara owns an activity with suspended passive losses from prior years of $13,000.In the current year,Mara becomes a material participant in the activity.This year the activity generates $6,000 of income.The net effect of this activity on Mara's current year AGI is

• A)an increase of $6,000.
• B)a decrease of $13,000.
• C)0)
• D)a decrease of $7,000.

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Definitions:

Early Marriages

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Rebel Without a Cause

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