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9 February, 22:16

In 2019, Cindy is married and files a joint return. She operates a sole proprietorship in which she materially participates. Her proprietorship generates gross income of $225,000 and deductions of $525,000, resulting in a loss of $300,000. What is Cindy's excess business loss for the year?

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  1. 9 February, 22:45
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    Cindy's excess business loss for the year is $0.

    Explanation:

    Particulars Amount ($)

    Aggregate business deductions 525,000

    Aggregate business gross income (225,000)

    Threshold amount (500,000)

    Excess Business loss 0

    Therefore, Cindy's excess business loss for the year is $0.
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Home » Business » In 2019, Cindy is married and files a joint return. She operates a sole proprietorship in which she materially participates. Her proprietorship generates gross income of $225,000 and deductions of $525,000, resulting in a loss of $300,000.
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