As a general rule, which of the following are true statements?

		1.)Personal losses other than casualty and theft are NOT deductible
		2.) Partnership losses (from all activities) can be deducted as a single line item on each partners tax return in proportion to the taxpayers ownership interest
		3.)Since investment losses are passive, they can never be deducted against earned income
		4.) Active business operating losses, (e.g. NOLs) can only be deducted against other business income