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Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1 9 9 6 . He also acquired a rental house

Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1996. He also acquired a rental house in 2023, which he actively manages. During 2023, Walter's share of the partnership's losses was $30,000, and his rental house generated $20,000 in losses. Walter's modified adjusted gross income before passive losses is $120,000. If an amount is zero, enter "0." Question Content Area a. Calculate the amount of Walter's allowable loss for rental house activities for 2023. fill in the blank 1 of 1$ Question Content Area b. Calculate the amount of Walter's allowable loss for the partnership activities for 2023. fill in the blank 1 of 1$ Question Content Area c. What may be done with the unused losses, if anything? The unused losses may be carried to reduce income in those years.

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