ANSWER IS NOT 63,000

Judy acquired passive Activity A in January 2011 and Activity B in July 2012. Until 2016, Activity A was profitable. Activity A produced a loss of $44, 500 in 2016 and a loss of $79, 500 in 2017. She has $37, 500 passive income from Activity Bin 2016, and $23, 500 in 2017. After offsetting passive income, how much of the net losses may she deduct