In 2018, Georges income from his consulting business is $180,000. He also has interest income...
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In 2018, Georges income from his consulting business is $180,000. He also has interest income from his investments in various corporate bonds of $12,000. In addition, George has the following investment activities during 2018:
Beginning Income/
Activity Material Participant At-Risk Investment (Loss)
Green Partnership Yes $5,000 ($8,000)
Red Partnership No $40,000 ($35,000)
Purple Partnership No $10,000 $18,000
What is Georges gross income for 2018? Does he have any suspended passive losses to carryover to 2019?
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