In the current year Rob reports $175,000 of salary income, $35,000 of income from activity X, and $30,000 and $20,000 losses from activities Y and Z. All 3 activities are passive with respect to Rob and are purchased in the current year.
Compute the amount of loss that may be deducted per activities. Then compute the amount of loss that must be carried over per activity
Activity Loss Deducted in Current Yr Loss Carried Over
X
Y
Z