Alfonso sells a passive activity in the current year for$800,000. His adjusted basis in the activity is $200,000, and heuses the installment method of reporting the gain. The activity hassuspended losses of $44,000. Alfonso receives $400,000 in the yearof sale.
Enter as a percentage. For example, .35 would be entered as"35". %
a. What is his gross profit ratio on the sale?_________________%
b. His recognized gain for the current year is $.____________________
c. Alfonso can currently deduct $______________________ ofsuspended losses.
