Passive Losses (LO. 5) Janet has a taxable income of $54,000 from her salary and investment assets. She also owns 3 passive activities that have the following income (loss) for the year: Passive Activity 1 $12,000 Passive Activity 2 $(18,000) Passive Activity 3 $(9,000) 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 $ -15,000 . 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 $10,000 X suspended loss, $10,000 is allocated to Passive Activity 2 and $ 5,000 to Passive Activity 3. 54,000 V Feedback Check My Work Congress has enacted specific rules with respect to passive loss deductions