Ashton owns a condominium near San Diego, California. This year, he incurs the following expenses in connection with his condo:
During the year, Ashton rented the condo for 120 days and he received $24,000 of rental receipts. He did not use the condo at all for personal purposes during the year. Ashton is considered to be an active participant in the property. Ashton's AGI from all sources other than the rental property is $120,000. Ashton does not have passive income from any other sources. What is Ashton's AGI?
Definitions:
Angiostenosis
Narrowing or constriction of a blood vessel that can impede blood flow.
Cardiac Arrest
A sudden cessation of heart function, leading to a lack of blood flow to the brain and other vital organs.
Sphygmomanometer
A device used to measure blood pressure, comprising a cuff to restrict blood flow and a manometer to measure the pressure.
Arterial Blood Pressure
The force exerted by circulating blood upon the walls of the arteries.
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