During the year, Mark reports $90,000 of active business income from his law practice. He also owns two passive activities. From Activity A, he earns $20,000 of income, and from Activity B, he incurs a $30,000 loss. As a result, Mark
A. reports AGI of $80,000.
B. reports AGI of $90,000 with a $30,000 passive loss carryover.
C. reports AGI of $90,000 with a $10,000 passive loss carryover.
D. reports AGI of $110,000 with a $30,000 passive loss carryover.
Answer: C
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