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In 2019, Cindy is married and files a joint return. She operates a sole proprietorship in which she materially participates. Her proprietorship generates gross income of $225,000 and deductions of $525,000, resulting in a loss of $300,000. What is Cindy's excess business loss for the year?

Respuesta :

Karabo99

Answer:

Cindy's excess business loss for the year is $0.

Explanation:

  Particulars                                                          Amount($)

Aggregate business deductions                           525,000

Aggregate business gross income                       (225,000)

Threshold amount                                                  (500,000)

Excess Business loss                                                0

Therefore, Cindy's excess business loss for the year is $0.

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