What amount of rental loss is allowed, Accounting Basics

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What amount of rental loss is allowed

Question: Fonzie owns an apartment building and incurred a $12,000 rental loss. Fonzie has no other passive activities and is not a real estate professional. His wage income is $200,000 and his portfolio income is $30,000. What amount of rental loss is allowed? Group of answer choices $5,000 $25,000 $15,000 $12,000 $0

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