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Jack's adjusted basis in his passive activity is $30,000 at the beginning of the year. His losses from the activity is $8,000. What is Jack's deduction for the year

Respuesta :

Answer:

No deduction

Explanation:

A passive activity is that event, in which the taxpayer did not participate significantly in the sector. In the other hand if the taxpayer is not having passive income though-out the the year, so a taxpayer will not get any deduction of passive losses which is available.

Therefore as per the above explanation, the passive loss is 8,000 and as per the situation, Jack is not eligible to get any deduction.

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