Noah Yobs, age 55, who has $85,000 of AGI (solely from wages) before considering rental activities, has $76,500 of losses from a real estate rental activity in which he actively participates. He also actively participates in another real estate rental activity from which he has $42,500 of income. He has other passive activity income of $27,200. a. What amount of rental loss can Noah use to offset active or portfolio income in the current year? $ b. Compute Noah's AGI on Form 1040 [page 1; also complete Schedule 1 (Form 1040)] for the current year. Use the minus sign to Indicate a loss. For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. For Paperwork Reduction Act Notice, see your tax return instructions. Noah Yobs, age 55, who has $85,000 of AGI (solely from wages) before considering rental activities, has $76,500 of losses from a real estate rental activity in which he actively participates. He also actively participates in another real estate rental activity from which he has $42,500 of income. He has other passive activity income of $27,200. a. What amount of rental loss can Noah use to offset active or portfolio income in the current year? $ b. Compute Noah's AGI on Form 1040 [page 1; also complete Schedule 1 (Form 1040)] for the current year. Use the minus sign to Indicate a loss. For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. For Paperwork Reduction Act Notice, see your tax return instructions