Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1995. He also acquired a rental house in 2022, which he actively manages. During 2022, Walter's share of the partnership's losses was $11,500, and his rental house generated $29,000 in losses. Walter's modified adjusted gross income before passive losses is $127,500

a. Calculate the amount of Walter's allowable loss for rental house activities for 2022

b. Calculate the amount of Walter's allowable loss for the partnership activities for 2022.

Walter, a single taxpayer, purchased a Limited partnenhip interest in a tax shelter in 1995 . He also aceuired a reetal bouse in 2022 , nhich he walively manages, Duing z032. Walteri 11 an ameunt is zero, enter " 0, a. Calculate the amount of Walter'l allowable loss for rentar housu activities for 2022 . b. Calculate the argociet of Weltne's allowable lons for the partnership octwitiex for 2022 : e. What moic be done wth the unueed lasaes. If anothing? the ungsed losine may bo camed