Passive Losses (LO. 5) Janet has a taxable income of $59,440 from her salary and investment assets. She also owns 3 passive activities that have the following income (loss) for the year: Passive Activity 1 Passive Activity 2 Passive Activity 3 $12,400 $(19,540) $(8,360) Note: Do not round your intermediate computations. Round your final answers to the nearest dollar. a. What is the effect of the passive activities on Janet's income? Janet has a loss of She is allowed to deduct these losses against passive income Her net taxable income is s b. How much suspended loss does Janet have in each passive activity? Of Janet's s Feedback suspended loss, 1 is allocated to Passive Activity 2 and 1 to Passive Activity 3.