Carrey earns a salary of $350,000, and invests $100,000 for a 30% interest in a passive activity. Operations of the activity result in a loss of $400,000, of which Carrey's share is $120,000. How is her loss characterized?

120,000 IS SUSPENDED UNDER PASSIVE LOSS RULES

20,000 IS SUSPENDED UNDER AT RISK RULES AND 100,000 IS SUSPENDED UNDER THE PASSIVE LOSS RULES

120,000 IS SUSPENDED UNDER AT RISK RULES

20,000 IS SUSPENDED UNDER THE PASSIVE LOSS RULES AND 100,000 IS SUSPENDED UNDER AT RISK RULES

NONE OF THE ABOVE