credit_equivalent - Irving’s marginal tax rate is 28...

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Topic: Tax credit equivalency Irving has AGI of $80,000 before considering the following rental activities. He is active in three separate real estate rental activities which generate the following income (loss) and credits.
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Unformatted text preview: Irving’s marginal tax rate is 28%. Activity Income (loss) Tax credits A (12,000) 2,100 B (18,000) C 10,000 Required : Calculate Irving’s current-year deductions & credits, and any suspended losses and credits....
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