Manny owes $12,000 of tax, disregarding net passive income, and $19,000 of tax, considering both...
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Manny owes $12,000 of tax, disregarding net passive income, and $19,000 of tax, considering both net passive and other taxable income (disregarding the credits in both cases). The amount of tax attributable to the passive income is $7,000.
Manny can claim a maximum of $ of passive activity credits and any the excess credits are
Manny owes $12,000 of tax, disregarding net passive income, and $19,000 of tax, considering both net passive and other taxable income (disregarding the credits in both cases). The amount of tax attributable to the passive income is $7,000 Manny can claim a maximum of of passive activity credits and any the excess credits are lost. carried over. passive Manny owes $12,000 of tax, disregarding net passive income, and $19,000 of tax, considering both net passive and other taxable income (disregarding the credits in both cases). The amount of tax attributable to the passive income is $7,000 Manny can claim a maximum of of passive activity credits and any the excess credits are lost. carried over. passive
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