34. L02 In the current year. Bill Parker {54 Oak Drive. St. Paul. MN 55164) is considering making an investment of $. in Best Choice Partnership. The prospectus provided by Bill's broker indicates that the partnership investment is not a passive activity and that Bill's share of the entity's loss in the current year will likely be $40.!Jtl. while his share of the partnership loss next year will probably he $25,0U. Write a letter to Bill in which you indicate how the losses would he treated for tax purposes in the current year and the following year