What is the impact of applying IRC section 465 to an investment? Limits the taxpayer's tax loss to the taxpayer's economic investment Limits Taxpayer's ability to invest in certain investment Limits the taxpayer's income generated by the investment Question 24 2 pts Jim has prior year suspended passive losses at the beginning of the current year. Jim can use these losses in the current year if: Jim generates passive income in the current year Jim has additional losses in the current year Jim's current year wages are in excess of the suspended passive losses Jim invests more money in the activity with the suspended losses