In 2010,Lindsay's At-Risk Amount Was $50,000 at the Beginning of the Year.Lindsay's

question 72

Essay

In 2010,Lindsay's at-risk amount was $50,000 at the beginning of the year.Lindsay's shares of income and losses from the activity were as follows (ignore passive loss rules): In 2014,what amount of income or loss will Lindsay report from this activity?

---

Definitions:

Ownership Interest

Refers to the rights and claims that an individual or entity has over a property or asset, demonstrating a stake or share in its value.

Real Property

Land and anything permanently attached to it, such as buildings and trees, as opposed to personal property, which is movable.

Earth's Crust

The outermost solid shell of a rocky planet, dwarf planet, or natural satellite, which is chemically distinct from the underlying mantle.

Chattel

Personal property which is movable, as opposed to real property or real estate.