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Judy, a single individual, reports the following items of income and loss: Salary $ 120,000 Loss...

Judy, a single individual, reports the following items of income and loss:

Salary

$

120,000

Loss from rental property

$

(40,000

)

Judy owns 100 percent of the rental property and actively participates in the rental of the property. Calculate Judy's taxable income for 2020.

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