Nora had passive income from activity b of 40000 in 2010, Ask an Expert

Accounting

Nora acquired passive activity A several years ago that until 2010 was profitable. However, the activity produced losses of $100,000 in 2010 and $50,000 in 2011. Nora had passive income from activity B of $40,000 in 2010 and $0 in 2011. How much loss is suspended from activity A in each year?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M959713

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