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Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1985. He also acquired a rental house in 2014, which he actively manages. During 2014, 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. a. Calculate the amount of Walter's allowable deduction for rental house activities for 2014. b. Calculate the amount of Walter's allowable deduction for the partnership losses for 2014. c. What may be done with the unused losses, if anything