Baird Has Four Passive Activities How Much of the $60,000 Net Passive Loss Can Baird

Essay

Baird has four passive activities.The following income and losses are generated in the current year.
$\begin{array}{lll}\text { Year }&\text { Gain (Loss) }\\\mathrm{A} & \$ (40,000)\\\mathrm{B} & \$ (15,000)\\\mathrm{C} & \$ (25,000) \\\mathrm{D} & \$ 20,000\\\text { Total }&\$(60,000)\end{array}$ How much of the $60,000 net passive loss can Baird deduct this year? Calculate the suspended losses (by activity).