Rose dies with passive activity property having an adjusted basis of $111,600, suspended losses of $35,712, and a fair market value at the date of her death of $156,240. Of the $35,712 suspended loss existing at the time of Rose's death, how much is deductible on her final return or by the beneficiary? The basis for the property is _______ to $_________; therefore, _________ of the $35,712 suspended loss is deductible on Rose's final return or by the beneficiary

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter11: Investor Losses
Section: Chapter Questions
Problem 60P
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Rose dies with passive activity property having an adjusted basis of $111,600, suspended losses of $35,712, and a fair market value at the date of her death of $156,240. Of the $35,712 suspended loss existing at the time of Rose's death, how much is deductible on her final return or by the beneficiary?

The basis for the property is _______ to $_________; therefore, _________ of the $35,712 suspended loss is deductible on Rose's final return or by the beneficiary.

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