Five years ago Gerald invested $150,000 in a passive activity, his sole investment venture. On January 1, 2020, his amount at risk in the activity was $30,000. His shares of the income and losses were as follows:

Year	Income (Loss)
2020	($40,000)
2021	(30,000)
2022	50,000

Gerald holds no suspended at-risk or passive activity losses at the beginning of 2020.

c. Assuming Gerald has $50,000 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: $0
• Suspended under the passive activity loss rules: _________

What is his taxable income for 2022? ______ At the end of 2022, what is the amount of Gerald's adjusted basis in the activity? 10000