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2 October, 17:27

In 2018, Cindy is married and files a joint return. She operates a sole proprietorship in which she materially participates. Her proprietorship generates a gross income of $225,000 and deductions of $525,000, resulting in a loss of $300,000. What is Cindy's excess business loss for the year?

a. $-0-.

b. $30,000.

c. $250,000.

d. $280,000.

e. None of the abov

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Answers (1)
  1. 2 October, 18:45
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    E. None of the above

    Explanation:

    Aggregate business deductions $52

    Less: Aggregate business gross income and gains (225,00 Less: Threshold amount (250,00) Excess business loss $50000

    Therefore the excess business loss is $50000 which none of the above given choices. The correct answer for this problem is therefore none of the above.
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