Lucy Owns and Actively Participates in the Operations of an Apartment

question 111

True/False

Lucy owns and actively participates in the operations of an apartment complex that produces a $50,000 loss during the year.Her modified AGI is $125,000 from an active business.Disregarding any at-risk amount limitation,she may deduct $25,000 of the loss,and the remaining $25,000 is a suspended passive loss.

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Storage Device

A computing hardware used to store, retrieve and manage digital data, such as hard drives, SSDs, USB flash drives, and memory cards.

Thumb Drive

A portable storage device that connects to a computer or other device via a USB port, used for storing, transferring, or backing up data.

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Advanced mobile phones that offer extensive computing capabilities, including internet access, applications, and touchscreen interfaces.

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Laptops, desktops, and tablets running on Google's Chrome OS, designed for mainly internet-based tasks such as browsing and cloud computing.