K IS A 20% GENERAL PARTNER IN A REAL ESTATE PARTNERSHIP. HE IS NOT A REAL ESTATE PROFESSIONAL BUT HE DOES ACTUALLY PARTICIPATE IN THE PARTNERSHIP'S REAL ESTATE RENTAL ACTIVITY. FOR THE CURRENT YEAR, HIS SHARE OF THE PARTNERSHIP'S NET LOSS WAS$ 35,000.00. IN ADDITION, HE HAD TAX EXEMPT INCOME OF$ 4,800.00AND NET SELF EMPLOYMENT INCOME OF$ 120,000.00. HE PAID SELF EMPLOYMENT TAXES OF$ 16,128.00,PROPERLY CLAIMING FOR AGI OF$ 8,064.00 FOR HALF OF THAT AMOUNT.

HOW MUCH OF PARTNERSHIP ACTIVITY NET LOSS FOR THE YEAR WILL K BE ALLOWED TO DEDUCT AND HOW MUCH MUST BE CARRIED FORWARD ( IF ANY)?