Question 20. 20. (TCO 3) Art's at-risk amount in a passive activity was $60,000 at the beginning of 2011. His loss from the activity in 2011 is $80,000, and he had no passive activity income during the year. Art had $20,000 of passive income from the activity in 2012. Under the passive loss rules, Art's suspended loss at the end of 2012 is _____. (Points : 6)

$20,000 $15,000 $45,000 $60,000 None of the above