If charlie actively participates in the management of


Charlie is married and files a joint return. He reports the following items of income and loss for the year:
Salary ..................$120,000
Activity A (passive) .............$13,000
Activity B (nonbusiness rental real estate)....( $45,000)

1. If Charlie actively participates in the management of Activity B, what is his AGI for the year and what is the passive loss carryover to next year?

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