Passive Loss Limitations (LO 4.8) Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1993. He also acquired a rental house in 2020, which he actively manages. During 2020, Walter's share of the partnership's losses was $14,500, and his rental house generated $27,500 in losses. Walter's modified adjusted gross income before passive losses is $141,000. If an amount is zero, enter "0". a. Calculate the amount of Walter's allowable loss for rental house activities for 2020. $ b. Calculate the amount of Walter's allowable loss for the partnership activities for 2020. $ c. What may be done with the unused losses, if anything? The unused losses may be carried tax years indefinitely, to reduce income in those years