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Unformatted text preview: Suspended passive loss from Part B of $13000 (22000-9000) Since at risk for $22000 in Part B, loss carryover for Part B of $3000 (22000-25000) 39 Passive Loss Deduction--None Suspended Losses--2010 losses were offset by an equal amount of income, so they are the samke as pre-2010 suspended losses. 41 Flower shop (not passive) $45,000 Dividends from stock 12,000 Interest from bonds 14,000 Total Income 71,000 Less: rental property loss (18,000) AGI $53,000 48a Adjusted basis of property $8,000 Less: Ins reimbursement 7,500 Nonpesonal theft loss deduction $500 b Lesser of adj basis or decline in FMV $3,000 Less: Ins reimbursement 3,500 Nonpersonal casualty loss deduction $- c Adjusted basis of property $9,000 Less: Ins reimbursement 6,000 Nonpersonal casualty loss deduction $3,000 34 $13,000 50 b...
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- Fall '11