In the Current Year, Lucile, Who Has AGI of $70,000

question 26

Essay

In the current year, Lucile, who has AGI of $70,000 before considering rental activities, is active in three separate real estate rental activities and is in the 28% tax bracket. She had $15,000 of losses from Activity A, $25,000 of losses from Activity B, and income of $20,000 from Activity C. She also had $3,100 of tax credits from Activity A. Calculate her deductions and credits currently allowed and the suspended losses and credits.

Know how to filter records using various methods like Filter By Form, Filter By Selection, and advanced filtering.

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