Nora Acquired Passive Activity a Several Years Ago That Until

question 81

Multiple Choice

Nora acquired passive activity A several years ago that until 2011 was profitable.However, the activity produced losses of $100,000 in 2011 and $50,000 in 2012.Nora had passive income from activity B of $40,000 in 2011 and $0 in 2012.How much loss is suspended from activity A in each year?

• A)$60,000 in 2011 and $50,000 in 2012.
• B)$100,000 in 2011 and $50,000 in 2012.
• C)$0 in 2011 and $0 in 2012.
• D)None of the above.

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Definitions:

Mineralocorticoids

A class of corticosteroids, hormones that are involved in the regulation of electrolyte and water balance, primarily by the kidneys.

PTH

Parathyroid hormone, a hormone secreted by the parathyroid glands that regulates serum calcium and phosphate levels.

Insulin

A hormone produced by the pancreas that helps regulate blood glucose levels by facilitating the uptake of glucose by cells.

Adrenal Cortex

The outer portion of the adrenal gland that produces steroid hormones including cortisol and aldosterone.