In 2012 Annie invests $55,000 in an activity for which she is not a material participant. Annie has
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In 2012 Annie invests $55,000 in an activity for which she is not a material participant. Annie has no other sources of income. Annie’s losses from the activity are as follows:Income/(Loss)2012 ($45,000) 2013 ($20,000)2014 $30,000Calculate Annie’s deductible loss, basis, and any losses suspended under the at-risk and/or passive activity loss rules each year.
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