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explain please! 2. Chuck, an individual, has three separate passive activities and an at-risk amount in excess of $40,000 for each. During the year, the

explain please! image text in transcribed
2. Chuck, an individual, has three separate passive activities and an at-risk amount in excess of $40,000 for each. During the year, the activities produced the following amounts of net income (loss): Activity 1 ($40,000) Activity 2 ($10,000) Activity 3 $30,000 Net Passive Loss ($20,000) Chuck's suspended losses for the current year are as follows: Activity 1 Activity 2 $40,000 $10,000 $10,000 $10,000 $16,000 $4,000 $4,000 $16,000 $0

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