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Joy Reports the Following Income and Loss Activities A,B,and C Are All Passive Activities

Question 28

Multiple Choice

Joy reports the following income and loss:  Salary $120,000 Income from activity A 60,000 Loss from activity B (35,000)  Loss from activity C (55,000) \begin{array} { | l | r | } \hline \text { Salary } & \$ 120,000 \\\hline \text { Income from activity A } & 60,000 \\\hline \text { Loss from activity B } & ( 35,000 ) \\\hline \text { Loss from activity C } & ( 55,000 ) \\\hline\end{array} Activities A,B,and C are all passive activities.
Based on this information,Joy has the following suspended losses:


A)  Activity B  Activity C $1,667$18,333\begin{array} { | l | l | } \hline \text { Activity B } & \text { Activity C } \\\hline \$ 1,667 & \$ 18,333 \\\hline\end{array}
B)  Activity B  Activity C $35,000$55,000\begin{array} { | l | l | } \hline \text { Activity B } & \text { Activity C } \\\hline \$ 35,000 & \$ 55,000 \\\hline\end{array}
C)  Activity B  Activity C 10,000$20,000\begin{array} { | l | l | } \hline \text { Activity B } & \text { Activity C } \\\hline 10,000 & \$ 20,000\\\hline\end{array}
D)  Activity B  Activity C $0$0\begin{array} { | l | l | } \hline \text { Activity B } & \text { Activity C } \\\hline \$ 0 & \$ 0 \\\hline\end{array}

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