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In 2019, Fred invested $120,000 in a general partnership. Fred's interest is not considered to be a passive activity. If his share of the partnership

In 2019, Fred invested $120,000 in a general partnership. Fred's interest is not considered to be a passive activity. If his share of the partnership losses is $84,000 in 2019 and $58,800 in 2020, how much can he deduct in each year?

Fred can deduct $fill in the blank 1 in 2019 and $fill in the blank 2 in 2020.

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