Brandon,a Single Taxpayer,had a Loss of $48,000 from a Rental

question 57

Multiple Choice

Brandon,a single taxpayer,had a loss of $48,000 from a rental real estate activity in which he actively participated.He also had $27,000 of income from another rental real estate activity in which he actively participated.He acquired both investments in the current year.If Brandon has no other passive income or losses and has adjusted gross income of $84,000 before considering passive activities,how much loss from rental activities can he use to offset his nonpassive income?

• A)$21,000
• B)$24,000
• C)$25,000
• D)$45,000

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Definitions:

Service Delivery

The process of providing services to customers or citizens, often evaluated by speed, quality, and customer satisfaction.

Idle Production Capacity

The portion of a production facility's total capacity that is not currently being used in the production of goods or services.

Boeing 737

A popular and widely used series of narrow-body aircraft manufactured by Boeing Commercial Airplanes.

No Revenue

A situation where no sales are made or no money is earned by a business or institution.