Spencer Has an Ownership Interest in Three Passive Activities

question 47

Multiple Choice

Spencer has an ownership interest in three passive activities. In the current tax year, the activities had the following income and losses: How much in passive losses can Spencer deduct?

• A) $0.
• B) $12,000.
• C) $16,000.
• D)$20,000.

---

Definitions:

Social Isolation

A state where an individual lacks a sense of belonging, social engagement, or meaningful contact with others.

Powerlessness

The feeling of lacking control or influence over one's circumstances or outcomes.

Bullying

Intimidation or aggressive behavior by an individual or group towards others, often characterized by repetition and a power imbalance.

Cultural Identity

The sense of belonging to a group that shares common cultural traits such as language, traditions, and customs.