Five years ago Gerald invested $150,000 in a passive activity, his sole investment venture. On January 1, 2016, his amount at risk in the activity was $30,000. His shares of the income and losses were as follows:

Year	Income (Loss)
2016	($40,000)
2017	(30,000)
2018	50,000

Gerald holds no suspended at-risk or passive activity losses at the beginning of 2016.

If an answer is zero, enter "0".

a. If losses were limited only by the at-risk rules, how much can Gerald deduct in 2016 and 2017?

Year	Loss	Allowed	Suspended
2016	($40,000)	$	$
2017	($30,000)
Total			$

b. Refer to the information in part (a) above. Assuming Gerald has $50,000 income in 2018, what is his taxable income in 2018 under at-risk rules? $

c. If losses were limited by the at-risk and passive activity loss rules, how much would Gerald be able to deduct in 2016 and 2017?

2016: $

2017: $

d. Assuming Gerald has $50,000 income in 2018, (and considering both at-risk and passive activity loss rules), what is the amount of Gerald's suspended passive activity losses at the end of 2018 under the at-risk rules and under the passive activity loss rules? Under the at-risk rules: $ Under the passive activity loss rules: $

At the end of 2018, what is the amount of Gerald's adjusted basis in the activity? $