Jackson invested $190,000 in a passive activity five years ago. On January 1, 2005, his at-risk amount in the activity was $45,000. His shares of the income and loses in the activity were $52,000 loss 2005, $20,000 loss in 2006, and $80,000 gain in 2007. How much can Jackson deduct in 2005 and 2006? What is his taxable income from the activity in 2007? Keep in mind the at-risk rules as well as the passive loss rules.