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Business, 11.11.2020 17:50 yolo1143

Wendy is a single taxpayer with adjusted gross income of $92,300 for tax year 2019. She has rental income of $55,000 and rental expenses of $80,000. What can Wendy report on her tax return given this situation? a. She can deduct $10,000 because her rental expenses exceeded her rental income
b. She can deduct $15,000 because her rental expenses exceeded her rental income
c. She can deduct $25,000 because her rental expenses exceeded her rental income

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Wendy is a single taxpayer with adjusted gross income of $92,300 for tax year 2019. She has rental i...
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