Sandra Acquired a Passive Activity Three Years Ago

question 120

Multiple Choice

Sandra acquired a passive activity three years ago. Until last year, the activity was profitable and her at-risk amount was $300,000. Last year, the activity produced a loss of $100,000, and in the current year, the loss is $50,000. Assuming Sandra has received no passive activity income in the current or prior years, her suspended passive activity loss from the activity is:

• A) $90,000 from last year and $50,000 from the current year.
• B) $100,000 from last year and $50,000 from the current year.
• C) $0 from last year and $0 from the current year.
• D) $50,000 from the current year.
• E) None of the above.

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Definitions:

Apple Symbol

Trademark symbol associated with Apple Inc., representing its brand and products.

Trademark Office

is a governmental body responsible for registering and enforcing trademark rights to protect brands and logos.

Unauthorized Use

Unauthorized use occurs when someone uses property, information, or resources without permission from the rightful owner or authority.

Trademark Infringement

The unauthorized use of a trademark, which creates confusion about the origin, sponsorship, or approval of goods or services.