ilene purchased a house near TU several years ago, she rents the house to TU...
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Accounting
ilene purchased a house near TU several years ago, she rents the house to TU students. Her principal residence is in Broken Arrow. For the year, she has a net loss of $15,000 from the rental. If Ilene is an active participant in the rental and her AGI is $140,000, how much of the loss can she deduct against ordinary income in the year?
$15,000
$10,000
$5,000
0
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