Problem (10 points) Fortax year 2020. Janet has a taxable income of 54.000 from her salary and investment assets. For tax year 2021. Janct has a taxable income from her salary and investment activities of 562.000 for 2021. She also owns 3 passive activities that have the attached incomes closses) for tax years 2020 and 2021 REQUIRED: (1) What amount of income will Janet report from her passive activities for 2020? Explain (2) How much suspended loss does Janet have in cach passive activity at the end of 2020? Show calculations What amount of income wilt Janet report from her passive activities for 2021? Explain How much suspended low doesJone have in cach passive activity at the end of 20212 Show calculations TAXPAYER JANET PASSIVE ACTIVITY INCOME AND LOSSES FOR TAX YEAR 20.30 5 Passive Activity Passive Activity 2 Passive Activity 3 12.000 18.000) 9,000) TAXPAYER JANET PASSIVE ACTIVITY INCOME AND LOSSES FOR TAX YEAR 2021 s Passive Activity! Passive Activity 2 Passive Activity 15.000 8.000) 2.000 Problem (10 points) Fortax year 2020. Janet has a taxable income of 54.000 from her salary and investment assets. For tax year 2021. Janct has a taxable income from her salary and investment activities of 562.000 for 2021. She also owns 3 passive activities that have the attached incomes closses) for tax years 2020 and 2021 REQUIRED: (1) What amount of income will Janet report from her passive activities for 2020? Explain (2) How much suspended loss does Janet have in cach passive activity at the end of 2020? Show calculations What amount of income wilt Janet report from her passive activities for 2021? Explain How much suspended low doesJone have in cach passive activity at the end of 20212 Show calculations TAXPAYER JANET PASSIVE ACTIVITY INCOME AND LOSSES FOR TAX YEAR 20.30 5 Passive Activity Passive Activity 2 Passive Activity 3 12.000 18.000) 9,000) TAXPAYER JANET PASSIVE ACTIVITY INCOME AND LOSSES FOR TAX YEAR 2021 s Passive Activity! Passive Activity 2 Passive Activity 15.000 8.000) 2.000