Anonymous asked in Business & FinanceTaxesUnited States · 1 month ago

Suspended passive losses (tax question)?

I need some help understanding how to calculate suspended passive losses. Here is the question I am having trouble with: 

At the beginning of the year, Amber has a carryover of unused losses in the amount of $1,250 under at-risk rules and $2,000 under passive loss rules. In the current year, Amber has no gain or loss from her passive activity, however she contributes $6,000 to the passive activity. She has no other passive income for the year. What are her suspended passive losses at year-end? 

Any help is greatly appreciated! Thanks in advance :)

1 Answer

  • 1 month ago

    Sounds like what you're really "having trouble with" is doing your own homework.  This is NOT a homework forum.

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