PROBLEM H 15 POINTS K IS A 20\% GENERAL PARTNER IN A REAL ESTATE PARTNERSHIP. HE IS NOT A REAL ESTATE PROFESSIONAL BUT HE DOES ACTUALLY PARTICIPATE IN THE PARTNERSHIP'S REAL ESTATE RENTAL ACTIVITY. FOR THE CURRENT YEAR, HIS SHARE OF THE PARTNERSHIP'S NET LOSS WAS $35,000.00. IN ADDITION , HE HAD TAX EXEMPT INCOME OF $4,800.00 AND NET SELF EMPLOYMENT INCOME OF $120,000.00. HE PAID SELF EMPLOYMENT TAXES OF $16,128.00, PROPERLY CLAIMING FOR AGI OF $8,064.00 FOR HALF OF THAT AMOUNT. HOW MUCH OF PARTNERSHIP ACTIVITY NET LOSS FOR THE YEAR WILL K BE ALLOWED TO DEDUCT AND HOW MUCH MUST BE CARRIED FORWARD (IF ANY)? PROBLEM H 15 POINTS K IS A 20\% GENERAL PARTNER IN A REAL ESTATE PARTNERSHIP. HE IS NOT A REAL ESTATE PROFESSIONAL BUT HE DOES ACTUALLY PARTICIPATE IN THE PARTNERSHIP'S REAL ESTATE RENTAL ACTIVITY. FOR THE CURRENT YEAR, HIS SHARE OF THE PARTNERSHIP'S NET LOSS WAS $35,000.00. IN ADDITION , HE HAD TAX EXEMPT INCOME OF $4,800.00 AND NET SELF EMPLOYMENT INCOME OF $120,000.00. HE PAID SELF EMPLOYMENT TAXES OF $16,128.00, PROPERLY CLAIMING FOR AGI OF $8,064.00 FOR HALF OF THAT AMOUNT. HOW MUCH OF PARTNERSHIP ACTIVITY NET LOSS FOR THE YEAR WILL K BE ALLOWED TO DEDUCT AND HOW MUCH MUST BE CARRIED FORWARD (IF ANY)