Art's At-Risk Amount in a Passive Activity Was $60,000 at the Beginning

question 48

Multiple Choice

Art's at-risk amount in a passive activity was $60,000 at the beginning of 2018.His loss from the activity in 2018 is $80,000, and he had no passive activity income during the year.Art had $20,000 of passive activity income from the activity in 2019.Under the passive activity loss rules, Art's suspended loss at the end of 2019 is:

• A)$15,000.
• B)$20,000.
• C)$45,000.
• D)$60,000.
• E)None of these.

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Definitions:

Buoyancy Of Water

The upward force exerted by water that opposes the weight of an object immersed in it, allowing it to float or seem lighter.

Spiracles

Spiracles are breathing openings found on the body of some animals, including insects and some arthropods, allowing air to enter the respiratory system.

Vascular Region

Parts of plants that are involved in the transport of nutrients and water, including the xylem and phloem.

Mantle

In the mollusk, a fold of tissue that covers the visceral mass and that usually produces a shell.