Business

21 July, 02:01

Maria, an engineer, has an adjusted gross income of $167,000 before considering the following losses. The passive activity rules disallow the deduction for the loss in which of the following?

I. Maria has a $21,000 loss from her ownership of Family Apartment Village, a low-income housing project.

II. Maria owns and actively participates in managing a rental house across the street from East State College. This activity generates a $7,000 loss in the current year.

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