Which of the following is NOT a passive activity? a. Owning a business and not materially participating. b. Owning a limited partnership interest in real estate. c. Owning a limited partnership interest in oil and gas wells. d. All of these are passive activities. e. Owning any interest in oil and gas wells. During 2020, Tommy's home was burglarized. The home was in a Presidentially declared disaster area. Tommy had the following items stolen. -A block of securities worth $20,000. Tommy purchased the securities three years ago for $16,000. -A block of securities worth $30,000. Tommy purchased the securities for $24,000 two years ago. Tommy's homeowners policy had an $50,000 deductible clause for thefts. How much is Tommy's theft loss --prior to "floors" or "ceilings" based on AGI--for 2020? a. $50,000 b. $32,000 c. $40,000 d. None of these -In 2018, Lisa incurred the following employee business expenses: Meals $2,000 Lodging $4,000 Her employer reimburses her a total of $0 for all of these expenses under an accountable plan. Ignoring any floor based on percent of AGI, what is her deduction for these expenses? a. $1,250 b. $1,500 c. $5,000 d. $6,000 e. None of these