1. Ian Bupp sells an entire passive activity property. The property has an adjusted basis of $60,000 and suspended losses of $20,000. The sales price is $75,000. What will the tax consequence be in 2021 when Bupp sells the property?

2. During the current year, the Turleys are married taxpayers who file a joint return, report the following items of income and loss: AGI, consisting of salary income, of $126,000, and a rental real estate loss of $27,500. Bret actively participates in the rental activity. Determine the Turleys AGI for the current year.