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  3. Study Set
    Concepts in Federal Taxation
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    Exam 7: Losses-Deductions and Limitations
  5. Question
    Dwight Owns an Apartment Complex That Has a $30,000 Loss
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Dwight Owns an Apartment Complex That Has a $30,000 Loss

Question 108

Question 108

True/False

Dwight owns an apartment complex that has a $30,000 loss. His adjusted gross income is $85,000 before the loss. Since he qualifies as an active participant he may deduct $25,000.

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