Gabby is a 70% partner in a partnership in which she does not materially participate. During 20X1 the partnership had an ordinary business loss of $120,000 and no separately stated items. Gabby had a 1/1/X1 outside basis of $70,000 in this partnership. Gabby has the following 20X1 individual income tax information before considering her partnership loss: Wages Interest income 15,000 Rental income (passive activity) 6,000 How much of the 20X1 partnership loss may Gabby utilize (deduct) on her 20X1 income tax return? $20,000