Michael owns a rental property and is responsible for major decisions related to the rental (approving tenants, writing the lease, etc.). During the year, the property generates a ($19,000) loss. Michael has AGI of $108,000 and has sufficient tax basis and at-risk amounts to absorb the loss. How much loss can Michael deduct? $4,000$21,000 None of the choices are correct. $19,000 $25,000 Michael owns a rental property and is responsible for major decisions related to the rental (approving tenants, writing the lease, etc.). During the year, the property generates a ($19,000) loss. Michael has AGI of $108,000 and has sufficient tax basis and at-risk amounts to absorb the loss. How much loss can Michael deduct? $4,000$21,000 None of the choices are correct. $19,000 $25,000