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In 2020, Joanna, a single taxpayer, owned a piece of rental property which she materially participated in. This year, the rental property had a net

In 2020, Joanna, a single taxpayer, owned a piece of rental property which she materially participated in. This year, the rental property had a net loss of $15,000. a) Assuming Joanna had an AGI of $75,000, all W2 wages, how much of this loss can she take in 2020? (10 pts) b) Assuming Joanna had an AGI of $400,000, comprised of $390,000 of W2 wages and $10,000 of passive activity income from another property, how much of this loss can she take in 2020?

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