Jose, a single taxpayer, owns several rental properties and is actively participating in all of them. He has $6,000 of prior unallowed losses, and experienced a net loss of $4,500 on his rental properties in 2020. Jose had other passive income of $19,975. What would be his overall gain or loss?

$10,500 loss.

$9,475 gain.

$13,975 gain.

$15,475 gain.