Jonathan is a single taxpayer with modified adjusted gross income of $110,000 and an active participation rental real estate lof of $30,000. Assuming he has no other source of passive income, what i the adjusted special alowance?

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23-09-2022
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Jonathan is a single taxpayer with modified adjusted gross income of $110,000 and an active participation rental real estate lof of $30,000. Assuming he has no other source of passive income, what i the adjusted special alowance?

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abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2022-09-23T17:27:23+02:00

If Jonathan is a single taxpayer with modified adjusted gross income of $110,000 and an active participation rental real estate of of $30,000. Assuming he has no other source of passive income, the adjusted special allowance is $25,000.

Passive income

Since he has no other source of passive income and he is a single taxpayer that which means that Jonathan adjusted allowance will be the amount of $25,000.

The amount of $25,000 is classified as the adjusted special allowance of person that has modified adjusted gross income of the amount of $110,000.

Therefore If Jonathan is a single taxpayer with modified adjusted gross income of $110,000 and an active participation rental real estate of of $30,000. Assuming he has no other source of passive income, the adjusted special allowance is $25,000.

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