Michelle is an active participant in the rental condominium property she owns. During the year,...
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Accounting
Michelle is an active participant in the rental condominium property she owns. During the year, the property generates a ($15,000) loss; however, Michelle has sufficent tax basis and at-risk amounts to absord the los. If Michelle has $80,000 of salary, $10,000 of long-term capital gains, $3,000 of dividends, and no additional sources of incpome or deductions, how much loss can michelle deduct?
A)$0
B)$3,000
C)$7,000
D)$13,000
E)$15,000
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