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Business, 12.11.2019 02:31 kimsash05

Gerald holds no suspended at-risk or passive activity losses at the beginning of 2018. if an answer is zero, enter "0".

a. if losses were limited only by the at-risk rules, how much can gerald deduct in 2018 and 2019? year loss allowed suspended 2018 ($40,000) $ 30,000 $ 10,000 2019 ($30,000) 0 30,000 total $ 40,000

b. refer to the information in part (a) above. if losses were limited by the at-risk and the passive activity loss rules, how much would gerald be able to deduct in 2018 and 2019? of the allowable at-risk loss for 2018, gerald may deduct $ in 2018 due to the passive loss rules and of the allowable at-risk loss from 2019, gerald may deduct $ in 2019 due to the passive loss rules.

c. assuming gerald has $50,000 income in 2020, (and considering both at-risk and passive activity loss rules), what is the amount of gerald's suspended losses at the end of 2020?

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