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xeze [42]
3 years ago
14

Norm is a real estate professional with a real estate trade or business as defined in the tax law. He has $150,000 of business i

ncome and $50,000 of losses from actively managed real estate rentals. How much of the $50,000 in losses is he allowed to claim on his tax return?
Business
1 answer:
lukranit [14]3 years ago
3 0

Answer: the correct answer is $50,000

Explanation: he is allowed to claim the 100% of his losses.

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