5. Josh has investments in two passive activities. Activity A (acquired three years ago) produces income of $30,000 this year, while Activity B (acquired two years ago) produces a loss of $50,000. What are the amounts of Josh’s deductible loss and suspended loss for the year?

$30 000 loss is deductible, $20 000 is suspended

Explanation:

Passive losses are only deducted from passive income. deduction is limited to $500 000 for jointly married couples and $250 000 single tax payers.

Passive income is $30 000, therefore $ 30 000 out of the $50 000 loss is deductible, the suspended loss is $20 000

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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