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Fernanda has invested in three passive activities. During the current year, these investments generate the following results: Activity D generates income of $8,000 Activity E
Fernanda has invested in three passive activities. During the current year, these investments generate the following results: Activity D generates income of $8,000 Activity E generates a loss of $4,000 Activity F generates income of $30,000 In addition, Fernanda has $60,000 in suspended losses from Activity F. At the end of the year, Fernanda sells Activity F for a gain of $20,000. How much, if any, of Fernanda's passive losses can offset her active income for the current year
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