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Bill Has a $15,000 Passive Loss, a $12,000 Passive Gain

Question 86

Multiple Choice

Bill has a $15,000 passive loss, a $12,000 passive gain, $20,000 of active income, and a $14,000 active loss.What is Bill's current year net taxable income or loss?


A) $20,000 income
B) $6,000 income
C) $3,000 income
D) 0

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