In 2021 Frank had salary and AGI of $140,000 before considering a loss on Schedule E from rental property of ($35,000).

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answerhappygod
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In 2021 Frank had salary and AGI of $140,000 before considering a loss on Schedule E from rental property of ($35,000).

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In 2021 Frank had salary and AGI of $140,000 before considering
a loss on Schedule E from rental property of ($35,000). Frank
actively manages the property. He sells the property on December
20, 2021 for $100,000. Frank is limited to taking a passive
activity loss of $25,000 in 2021. Select one: True False
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