Passive Activities 34. A taxpayer took out a $100,000 nonrecourse loan and bought an apartment building. The building is not security for the loan. He spent $25,000 of his own money on repairs before he rented the apartment building to the public. He is single, works full-time and earns $80,000 per year. His loss from the rental real estate activity, in which he actively participates, is $30,000. He has no passive income. For what amount is the taxpayer at-risk and how much the passive loss from the rental activity is deductible? Passive Activities 34. A taxpayer took out a $100,000 nonrecourse loan and bought an apartment building. The building is not security for the loan. He spent $25,000 of his own money on repairs before he rented the apartment building to the public. He is single, works full-time and earns $80,000 per year. His loss from the rental real estate activity, in which he actively participates, is $30,000. He has no passive income. For what amount is the taxpayer at-risk and how much the passive loss from the rental activity is deductible