Brent owned 4 passive activity interests in 2013.

Anonymous
timer Asked: Jan 24th, 2016

Question description

Brent owned 4 passive activity interests in 2013.

Activity acquired 2013 allocated gain/loss pre2013 suspended loss

A 11/22/92    14000   (27000)

B 01/25/95    (22000)   (25000)

C 07/03/97  (5000)   (8000)

D 08/01/99  (3000)  (1000)

On Mar 2, 2013, he sold his entire interest in A for 15000. His basis in the activity on Jan 1 2013 was 11000.

Compute

gain/loss realizedfrom the sale of A

passive loss ded (against nonpassive income) and type (ordinary income (loss) or capital income (loss)

suspended losses and how they are allocated


Tutor Answer

(Top Tutor) Studypool Tutor
School: UCLA
Studypool has helped 1,244,100 students
flag Report DMCA
Similar Questions
Hot Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors