25. Adam is a retired rock star with multiple sources of income. He always provides his tax preparer with all potentially deductible items. Which of the following is false regarding his tax situation? a) Capital loss carryovers are not passive activity deductions. b) Adam can offset his losses or credits from passive activities of a publicly traded partnership against any other passive activity income he has. c) Income or gain from investments of working capital is not passive activity income. d) Income from a covenant not to compete is not passive activity income