Homework Answers
Answer:
Correct answer:
C. $100,000 for all filing categories except married filing separate
Explanation:
The MAGI threshold for the beginning of phase-out rule that reduces or eliminates the small landlord exception to the passive activity loss rules is $100,000 for all fining categories except married filing separate. The deduction is for an amount of $25,000. If the income is above $100,000, deduction is limited to 50% of difference between $150,000 and MAGI. If MAGI is $150,000 or more no deduction can be claimed.
As such option C is correct and other options A, B and D are incorrect.
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