Cobb, an unmarried individual, had an adjusted gross income of $200,000 in 2015 before any IRA deduction, taxable social security benefits, or passive activity losses. Cobb incurred a loss of $30,000 in 2015 from rental real estate in which he actively participated what amount of loss attributable to this rental real estate can be used in 2015 as an offset against income from non passive sources?
a. $0
b. $12,500
c. $25,000
d. $30,000
Answer: A
Tax
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