Five years ago Gerald invested $132,000 in a passive activity, his sole investment venture. On January 1, 2020, his amount at risk in the activity was $26,400. His shares of the income and losses were as follows: Year 2020 2021 2022 Income (Loss) ($39,600) (26,400) 105,600 Gerald holds no suspended at-risk or passive activity losses at the beginning of 2020. If an answer is zero, enter "0". a. If losses were limited only by the at-risk rules, how much can Gerald deduct in 2020 and 2021? Year Loss Allowed Suspended 2020 ($39,600) 30,000 X 9,600 X 2021 ($26,400) 0 26,400 Total Feedback 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 2020 and 2021? Of the allowable at-risk loss for 2020, Gerald may deduct $ in 2020 due to the passive loss rules and of the allowable at- risk loss from 2021, Gerald may deduct $ 0 in 2021 due to the passive loss rules. Feedback c. Assuming Gerald has $105,600 income in 2022, (and considering both at-risk and passive activity loss rules), what is the amount of Gerald's suspended losses at the end of 2022? Suspended under the at-risk rules: $ Suspended under the passive activity loss rules: $ What is his taxable income for 2022? $ 0 At the end of 2022, what is the amount of Gerald's adjusted basis in the activity? $