Lindsey, an attorney, earns $125,000 from her law practice in the current year. In addition, she receives $50,000 in dividends and interest during the year. Further, she incurs a loss of $40,000 from an investment in a passive activity. What is Lindsey's AGI for the year after considering the passive investment?
Lindsey cannot deduct the passive activity loss against active or portfolio income. Therefore, her AGI after considering the passive investment is $175,000 ($125,000 active income + $50,000 portfolio income).
Business
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