b. Refer to the information in part (a) above. If losses were limited by the at-risk and the passive activity loss rules, how much would Gerald be able to deduct in 2018 and 2019? Of the allowable at-risk loss for 2018, Gerald may deduct $ in 2018 due to the passive loss rules and of the allowable at-risk loss from 2019, Gerald may deduct $ in 2019 due to the passive loss rules. 0 Feedback Check My Work Correct c. Assuming Gerald has $50,000 income in 2020, (and considering both at-risk and passive activity loss rules), what is the amount of Gerald's suspended losses at the end of 2020? Suspended under the at-risk rules: $ Suspended under the passive activity loss rules: $ 20,000 X What is his taxable income for 2020? $ At the end of 2020, what is the amount of Gerald's adjusted basis in the activity? $ 9,800 Feedback Check My Work Partially correct b. Refer to the information in part (a) above. If losses were limited by the at-risk and the passive activity loss rules, how much would Gerald be able to deduct in 2018 and 2019? Of the allowable at-risk loss for 2018, Gerald may deduct $ in 2018 due to the passive loss rules and of the allowable at-risk loss from 2019, Gerald may deduct $ in 2019 due to the passive loss rules. 0 Feedback Check My Work Correct c. Assuming Gerald has $50,000 income in 2020, (and considering both at-risk and passive activity loss rules), what is the amount of Gerald's suspended losses at the end of 2020? Suspended under the at-risk rules: $ Suspended under the passive activity loss rules: $ 20,000 X What is his taxable income for 2020? $ At the end of 2020, what is the amount of Gerald's adjusted basis in the activity? $ 9,800 Feedback Check My Work Partially correct