Judy acquired passive Activity A in January 2011 and Activity B in July 2012. Until 2016, Activity A was profitable. Activity A produced a loss of $37,000 in 2016 and a loss of $64,500 in 2017. She has $31,500 passive income from Activity B in 2016, and $20,500 in 2017. After offsetting passive income, how much of the net losses may she deduct?

Deductible passive losses __________