Ms. Marvel had the following income (loss) for the current year:
Active income Portfolio income Passive income
Income $75,000 $22,000 $55,000
Deductions (45,000) (16,000) (110,000)
Net Income (Loss) $30,000 $6,000 ($55,000)
Determine the taxable income from the three activities if Ms. Marvel is an individual and the passive income is not related to a rental real estate activity.
A. ($19,000) B. $36,000 C. $0 D. ($55,000) E. $6,000
