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In the current year Alice reports $150,000 of salary income, $20,000 of income from activity X, and $35,000 and $15,000 losses from activities Y and Z, respectively. All three activities are passive with respect to Alice and are purchased during the current year. What is the amount of loss or Activity X.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9795338

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