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Problem 11-44 (Algorithmic) (LO. 3,9) Leon sells his interest in a passive activity for $133,000. Determine the tax effect of the sale based on each of the following independent facts: If an amount is zero, enter "O". a. Adjusted basis in this investment is $46,550. Losses from prior years that were not deductible due to the passive activity loss restrictions total $51,205. The is $ The se taxable gain the end of the year are deductible loss b. Assume the same sales price but the adjusted basis in this investment is $99,750. Losses from prior years that were not deductible due to the passive activity loss restrictions total $51,205. The is s The suspended losses at the end of the year are c. Assume the same sales price but the adjusted basis in this investment is $99,750. Losses from prior years that were not deductible due to the passive activity loss restrictions total $51,205. In addition, suspended credits total $13,300 The is The The suspended losses at the end of the year are b. Assume the same sales price but the adjusted basis in this Investment is $99,750. Losses from prior years that were not deductible due to the passive activity loss restrictions total $51,205. The is $ The suspended losses at the end of the year are $ c. Assume the same sales price but the adjusted basis in this investment is $99,750. Losses from prior years that were not deductible due to the passive activity loss restrictions total $51,205. In addition, suspended credits total $13,300. carried back is $ carried forward The suspended losses at the end of the year are $ lost The The suspended credits at the end of the year are

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