T-12. During 2019, Hugh had the following net income and loss with respect to nonrental nonreal estate activities:

Activity X	($50,000) net loss
Activity Y	$20,000 net income

Both Activity X and Activity Y are passive activities to Hugh. Hugh purchased Activity X in 1987 and Activity Y in 1993. How much loss that Hugh may deduct in 2019?

a. ($50,000)

b. ($30,000)

c. ($3,000)

d. $0

d. None of these

Please show your calculations. Thanks.