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This year Robert had the following income and losses from four passive activities:,Activity 1 …………………… ($20,000),Activity 2 …………………… ($10,000),Activity 3 …………………… ($ 5,000),Activity 4 …………………… $33,000,Activity 4 had $10,000 of passive losses that are carried over from a prior year. Robert also had wages of $110,000. ,a. How much income or loss does Robert have from the four activities? ,b. How are the suspended PALs allocated.,c. If Activity 1 were sold at an $18,000 gain, what would be the total income or loss from the four activities?
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