LO 4.8 c. $5,000 d. None 23. Norm is a real estate professional with a real estate trade or business as defined the tax law. He has $80,000 of business income and $40,000 of losses from actively managed real estate rentals. How much of the $40.000 in losses is he allowed claim on his tax return? a. $40,000 b. $25,000 c. $20,000 d. None u horinh and she has $1,000 of interest income. She has