In 2015,Glenn Had a $108,000 Loss on a Passive Activity

question 74

Multiple Choice

In 2015,Glenn had a $108,000 loss on a passive activity.None of the loss is attributable to AMT adjustments or preferences.She has no other passive activities.Which of the following statements is correct?

• A)In 2015,Glenn can deduct $108,000 for regular income tax purposes and for AMT purposes.
• B)Glenn will have a $108,000 tax preference in 2015 as a result of the passive activity.
• C)For regular income tax purposes,none of the loss is allowed in 2015.
• D)In 2015,Glenn will have a positive adjustment of $25,000 as a result of the passive loss.
• E)None of the above.

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