Reva gave her daughter a passive activity last year that had an adjusted basis of $78,000. The activity had suspended losses of $37,100 and a fair market value of $129,000. In the current year, her daughter realized income of $19,500 from the passive activity. Required: What is the tax effect on Reva and her daughter last year and in the current year? Note: Leave no cells blank - be certain to enter " 0 " wherever required