Question

A customer has $20,000 in passive losses from a limited partnership investment. If the customer has $20,000 of passive income for that tax year, the customer may deduct:___________.

Answer 1

Answer:

Customer deduction = $20

Explanation:

Given:

Passive loss = $20,000

Passive income = $20,000

Find:

Customer deduction

Computation:

Customer deduction = Passive loss - Passive income

Customer deduction = $20,000 - $20,000

Customer deduction = $0